Switzerland-based offshore drilling company Transocean has found more work for a harsh environment semi-submersible in Norway and two ultra-deep water drillships off the coast of Brazil.
Transocean has been awarded a 1,095-day contract for Transoceanic Barents Harsh environment semi-submersible with Our energy In Norway, an average of $450,000 per day, excluding additional services.
The program, which is expected to begin by the middle of the second quarter of 2027, is expected to contribute approximately $490 million, excluding mobilization and demobilization compensation. The deal also includes options that, if fully exercised, could keep the platform operating in Norway until 2034.
The rig owner also received a 1,095-day contract extension Orion deep water drilling with Petrobras In direct continuation of the current activity of the device. The expansion is expected to generate approximately $420 million in additional backlog, meaning a commitment to the platform through March 2030.
The company explains that prior to the extension period, from April 1, 2026, until the start of the new contract extension in March 2027, approximately 340 days, the current backlog will be reduced by approximately $20 million.
Transocean also won a 365-day contract extension for Aquila in deep water drilling with Petrobras In direct continuation of the device’s current mission. The extension is expected to bring in approximately $160 million in additional backlog and keep the platform busy until June 2028.
Prior to the extension period, from April 1, 2026, until the start of the new contract extension in June 2027, covering a period of approximately 450 days, the current backlog will be reduced by approximately $10 million.
Thanks to the latest deals and extensions, Transocean has secured nearly $1 billion in additional contract backlog for the company. The company’s total accumulated contracts I stood up Valued at $6.1 billion in February 2026.
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