Transocean Secures New Contracts for Offshore Drilling Rigs

Swiss-based offshore drilling company, Transocean, has recently announced new contract wins and extensions for two of its rigs, demonstrating a positive outlook for the company in the offshore drilling sector.

Equinor Contracts Transocean Enabler

One of the contracts was awarded to the 2016-built Transocean Enabler semisub by Norwegian energy major, Equinor. Equinor exercised a three-well option in Norway for the rig at a dayrate of $428,000. This extension will see the rig working from September 2026 until February 2027, marking a significant increase compared to its current dayrate of $388,000.

Equinor has additional priced options for the semisub, potentially extending the rig’s tenure with the company until July 2027, all at a rate of $428,000 per day.

Transocean Encourage Extension

Another contract was secured for the 2016-built Transocean Encourage with an undisclosed client. The rig, which is currently operating for Equinor, was initially set to conclude its work in February 2026. However, the latest fleet status report indicates an extension until December 2025, followed by a further extension in Norway until December 2026 at a day rate of $463,000.

Recent Deals and Aggregate Backlog

In addition to the Equinor contracts, Transocean also announced recent deals for the Dhirubhai Deepwater KG1 in India and the Transocean Endurance in Australia. These new contracts contribute to an aggregate incremental backlog of approximately $175 million, further strengthening Transocean’s position in the offshore drilling market.

With these recent contract wins and extensions, Transocean’s total backlog as of February 12 stands at around $8.3 billion, signaling a positive outlook for the company in the coming months.