Transocean wins $137 million drilling contract from “major” operator

(WO) – Transocean Ltd. announced that the Transocean Equinox was awarded a five-well contract in Australia by a major operator, representing approximately $137 million in firm backlog, excluding full payment for mobilization and a demobilization fee.

The estimated 300-day contract is expected to commence in the first quarter of 2024. The contract also provides for a one-well option, potentially keeping the harsh environment semisubmersible in Australia through the first quarter of 2025.

Transocean is an international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

Transocean owns or has partial ownership interests in and operates a fleet of 37 mobile offshore drilling units, consisting of 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing one ultra-deepwater drillship and holds a noncontrolling ownership interest in a company that is constructing one ultra-deepwater drillship.