Transocean received a new single well contract in the UK North Sea. Credit: Arvind Vallabh on Unsplash.

US-based Transocean has secured contracts and extensions worth approximately $488m in total for five of its drilling rigs.

The company received a new three-well contract from an undisclosed firm in the US Gulf of Mexico for its ultra-deepwater drillship.

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With an estimated duration of 100 days, the contract is planned to start in direct continuation of the rig’s current programme.

Transocean also received a new single well contract in the UK North Sea for its Transocean Barents harsh environment, semi-submersible vessel, which was built in 2009.

With an estimated duration of 110 days, the contract is planned to commence in the first quarter of 2023.

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UK-based oil and gas company Harbour Energy has exercised a third option in its contract for Transocean’s harsh environment, semi-submersible rig, Paul B Loyd, Jr., in the UK North Sea.

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The contract, which will add eight plug and abandonment (P&A) wells in the UK North Sea, is expected to last 275 days. The contract will extend till the third quarter of 2024.

In a press statement, Transocean said: “In Norway, certain previously disclosed options under the Transocean Norge contract with Wintershall DEA and OMV have now been added to backlog.”

In addition, TotalEnergies has exercised a one-well option as part of its contract for Development Driller III, an ultra-deepwater semi-submersible.

The Development Driller III ultra-deepwater drilling rig is currently deployed for operations in Suriname.

Last month, Transocean secured contracts for its two ultra-deepwater drillships, Deepwater Corcovado and Deepwater Orion. The contracts add approximately $1.04bn to the firm’s backlog.