Transocean announced it has entered into an agreement with Equinor for three harsh environment semisubmersible rigs on the Norwegian shelf. The agreement adds over $1 billion in contract backlog for a combined total of seven rig years.
Key Details
- Contract Value: The aggregate agreement is worth over $1 billion in contract backlog, with a base day rate of $399,000 per day, expected to exceed $400,000 at commencement.
- Affected Rigs & Timelines: The agreement covers three rigs: the Transocean Enabler (3-year program, Q1 2028 start), the Transocean Encourage (2-year program, Q1 2028 start), and the Transocean Endurance (2-year program, Q2 2027 start).
- Valaris Merger Update: The filing also notes that on June 29, 2026, Transocean received CFIUS approval for its pending business combination with Valaris Limited, satisfying a key closing condition for the transaction.