US-based oil and gas well drilling services provider Transocean has secured contract extensions for three of its harsh environment semi-submersibles.
The fixtures, in total, represent around $161m in firm contract backlog.
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The contracts involve operations in Norway and Australia, with major industry players Equinor, Wintershall Dea and Woodside.
In Norway, Transocean secured a three-well contract extension with Equinor for the Transocean Spitsbergen harsh-environment, ultra-deepwater semi-submersible. Work is expected to commence in the fourth quarter of 2025.
This extension, valued at around $72m, is a direct continuation of the rig’s current programme and could potentially include up to six additional wells.
Additionally, Wintershall Dea awarded a three-well extension for the Transocean Norge harsh-environment semi-submersible.
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By GlobalDataThe estimated 140-day programme is due to begin in Q1 2028, contributing approximately $71m to the backlog.
The contract excludes additional services, suggesting further potential revenue.
In Australia, a second option was exercised by Woodside for the Transocean Endurance rig.
This operation, an estimated 45-day well, is set to follow the rig’s current programme. It is expected to add approximately $18m to the backlog.
Transocean CEO Jeremy Thigpen said: “These fixtures are emblematic of the continued strength of the high-specification harsh environment market.
“Our customers are contracting rigs up to four years in advance, reinforcing our confidence in the strength and longevity of this upcycle.”
Last year, Transocean won a long-term contract from an independent operator in the Gulf of Mexico for a high-specification, seventh-generation, ultra-deepwater drillship.
At that time, Transocean said its three drill ships – Deepwater Invictus, Deepwater Thalassa and Deepwater Proteus were shortlisted for the job.
