Equinor awarded Transocean a contract for three harsh-environment rigs on the Norwegian Continental Shelf. The agreement adds over $1 billion to Transocean's backlog. This deal secures seven rig-years of capacity for Equinor’s future production plans.
The contract covers three purpose-built Cat D semisubmersible rigs: Transocean Enabler, Transocean Encourage, and Transocean Endurance. Transocean Enabler begins a three-year term. The Enabler contract starts in the first quarter of 2028. Transocean Encourage starts a two-year program. The Encourage contract also begins in the first quarter of 2028. Both contracts act as direct continuations of current work.
Transocean Endurance will mobilize from Australia for a two-year term. The Endurance program commences in the second quarter of 2027. The base day rate for the rigs is approximately $399,000. Contractual adjustments are expected to push the final day rate above $400,000.