Transocean Secures New Contracts and Extensions Across Multiple Regions

Switzerland-based offshore drilling contractor Transocean has recently announced a series of new contracts and extensions for its fleet of drilling rigs in various regions around the world. These developments further solidify the company’s position in the offshore drilling industry.

Contracts and Extensions Overview

Transocean’s total backlog, which was $7.9 billion in April 2025, now stands at approximately $7.2 billion as of July 16, 2025. The latest contracts and extensions add around $199 million to the company’s backlog.

In Australia, an undisclosed operator has exercised two one-well options for the Transocean Equinox rig at a day rate of $540,000. The rig is set to commence operations with ConocoPhillips in September 2025, drilling two wells – Essington-1 and Charlemont-1 – in the Otway Basin.

Equinor in Norway has secured a two-well option for the Transocean Spitsbergen rig at a day rate of $395,000. The rig, which has been working for Equinor for several years, is a sixth-generation dual-derrick winterized semi-submersible.

Transocean’s new contract with Murphy in Ivory Coast involves the Deepwater Skyros drillship on a three-well contract, with a one-well option at a day rate of $361,000. The drillship, with a maximum drilling depth of 40,000 feet, can accommodate 215 people.

In Brazil, the Deepwater Mykonos drillship has received a 60-day extension with Petrobras, along with options for an additional 120 days. The drillship, built in 2011, can drill up to 35,000 feet and operate in water depths of up to 10,000 feet.

Company Fleet and Operations

Transocean currently operates a fleet of 32 mobile offshore drilling units, including 24 ultra-deepwater floaters and eight harsh environment floaters. The fleet also includes eight stacked rigs, reflecting the company’s diverse capabilities and presence in key offshore drilling markets.

Overall, Transocean’s recent contract wins and extensions underscore its continued success in securing new business opportunities and maintaining a strong backlog in a competitive industry landscape.