Transocean boosts backlog with new rig deals

Swiss-based offshore driller Transocean has won one new contract and one extension for two of its rigs.

The first of those deals was awarded to the 2016-built Transocean Enabler semisub by Norwegian energy major Equinor.

According to the company’s fleet status report, Equinor exercised a three-well option in Norway for the rig at a dayrate of $428,000. The extension will last from September 2026 until February 2027.

The dayrate is a significant increase compared to the current deal. The rig has been operating for the Norwegian firm since July 2024 on a $388,000 dayrate.

Equinor has five more priced options for the semisub. If all are exercised, the rig could stay with the firm until July 2027. All the remaining priced options are for $428,000 per day.

Another deal was for the 2016-built Transocean Encourage with an undisclosed client. The rig is currently also working for Equinor.

It has been on hire with the company since July 2024. The deal was supposed to end in February 2026, however, the latest fleet status report claims the semisub will wrap up work in December 2025.

Following the Equinor deal, the rig will stay in Norway until December 2026 and work on a $463,000 day rate. The current contract the rig is working under has a substantially smaller dayrate of $361,000.

Other notable deals Transocean announced recently were for the Dhirubhai Deepwater KG1 in India and the Transocean Endurance in Australia.

The aggregate incremental backlog associated with these fixtures is approximately $175m. As of February 12, the company’s total backlog is roughly $8.3bn.