Region: All
Content Types: Report
Date: Jan, 2023

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Transocean has announced contract awards and extensions totalling US$488mn of firm backlog.

The contracts include a range of work from different fields across the globe. Deepwater Invictus, an ultra-deepwater drillship, was awarded a new three-well contract in the Gulf of Mexico with an independent operator. The contract will contribute an estimated US$43mn in backlog and is expected to commence in direct continuation of the rig’s current programme.

Transocean Barents, a harsh environment semi-submersible, was awarded a new one-well contract with an estimated 110-day duration in the North Sea with a major operator. The contract contributes an estimated US$34mn in backlog and is expected to commence in Q1 of 2023.

In Norway, certain previously disclosed options under the Transocean Norge contract with Wintershall DEA and OMV have now been added to backlog. The incremental term is expected to last 773 days and contribute an estimated US$331mn to backlog.

TotalEnergies exercised a one-well option on its contract with Development Driller III, an ultra-deepwater semi-submersible, working in Suriname. The incremental well is expected to last 90 days and contribute an estimated US$32mn in backlog.

Finally, Harbour Energy exercised the third option on its North Sea, UK, contract with Paul B. Loyd, Jr., a harsh environment semi-submersible, for eight P&A wells, adding an estimated US$48mn in backlog. The additional term is expected to last 275 days and extends the contract to Q3 of 2024.