Transocean, a Swiss-based offshore drilling contractor, has added a total of $1.1 billion to its contracts with two new agreements from A/S Norske Shell and Equinor. These contracts include drilling operations in the North Sea and the coasts of Norway.
Details of the Contract with Shell
Transocean Norge, a semi-submersible drilling rig, has secured a two-well contract with A/S Norske Shell. This contract includes 120 days of drilling work, which will directly continue the previous plans of the drilling rig in Norway and will add approximately $62 million to Transocean's contracts. This contract also includes an option for a one-well drilling.
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Transocean Norge is recognized as the first semi-submersible drilling rig to receive the Abate (Power+) certification for reducing greenhouse gases. This rig, built in 2019, has a maximum drilling depth of 40,000 feet and was constructed at the Jurong Shipyard in Singapore, with accommodation capacity for 150 people.
Contract with Equinor and Its Dimensions
In late September, Transocean received final confirmation of a previously announced contract from Equinor for three semi-submersible drilling rigs in Norway. These rigs include Transocean Enabler, built in 2016, Transocean Encourage, built in 2015, and Transocean Endurance, built in 2015.
As a result of this agreement, Transocean has achieved a $1.1 billion contract, which includes $62 million from the new contract and the official confirmation of the previous agreement with Equinor. This has led to the conversion of the $1 billion contract value into solidified agreements.
This addition to the contracts comes less than two months after Transocean signed a long-term contract for a ultra-deepwater drilling vessel built in 2010 with Oil and Natural Gas Corporation (ONGC).
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