Transocean, the offshore drilling company, has successfully increased its total contracts by $2 billion through new contracts and the renewal of previous ones. These contracts include new projects for two drilling rigs in the Gulf of Mexico and Equatorial Guinea, as well as contracts for operations in India and Norway.
Details of New Contracts
Two new drilling rigs have secured new contracts. The Deepwater Conqueror, built in 2016, has obtained contracts with unknown operators in Equatorial Guinea and the Gulf of Mexico. In Equatorial Guinea, this rig will drill two wells from January 2027 to July 2027 at a daily rate of $465,000. In the Gulf of Mexico, this contract includes drilling five wells from August 2027 to November 2028 at a daily rate of $499,000.
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The Deepwater Conqueror has been working in the Gulf of Mexico for an unknown operator since October 2025. Earlier this year, this rig successfully renewed its contract and will continue working with the same operator until January 2027 at a daily rate of $530,000.
Additional Contracts and Options
In its previous fleet status report, Transocean announced that the Deepwater Proteus has secured a new two-well contract from an unknown operator in the Gulf of Mexico. This contract will run from July to November. Additionally, the company has added two options for one well to this rig, and it has now been announced that the operator has exercised one of the options. This work is expected to take about 60 days.
The Deepwater Proteus has also secured a ten-well contract from another operator in the Gulf of Mexico, which will run from February 2027 to January 2029 at a daily rate of $465,000.
For the semi-submersible fleet, the Transocean Equinox, built in 2015, has secured a contract extension for one well for 50 days from November 2026 to January 2027 at a daily rate of $485,000. The customer's name in this contract has not been disclosed.
Transocean has also confirmed the contract for the Dhirubhai Deepwater KG2 rig, built in 2010, which was previously announced by ONGC. This contract will last for two years for work in India from February 2027 to February 29 at a daily rate of $389,000. This contract also includes options that could keep the rig with ONGC until February 2031.
The company's fleet status report also mentioned a two-well contract with a one-well option for the Transocean Norge, which had previously been reported by other news sources. In late September, news sources also referred to Equinor's final approval for previous contracts for the semi-submersible rigs Transocean Enabler, Transocean Encourage, and Transocean Endurance in Norway. The total value of these contracts is approximately $1 billion, which is now included in Transocean's contract list.
Currently, the total of new and renewed contracts amounts to approximately $2 billion, and recent updates indicate that Transocean's total contracts have reached about $8 billion.
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