Transocean has secured approximately $1bn in new contract awards, including a contract for the Transocean Barents semisubmersible rig in Norway and extensions for two drillships in Brazil.
The deals are set to enhance the company’s firm contract backlog.
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The Transocean Barents has been awarded a 1,095-day contract by Vår Energi.
Expected to start by mid-Q2 2027, the contract offers a daily rate of $450,000. It will contribute around $490m to the backlog, excluding mobilisation and demobilisation compensation.
This agreement includes options that could extend operations of the rig in Norway until 2034.
The Transocean Barents is an Aker H-6e semi-submersible rig, constructed at the Aker Kvaerner Stord shipyard.
It entered service in 2009 and is classified by DNV as a 1A1 Column Stabilized Drilling Unit.
Measuring 295ft in length and 230ft in width at the main deck, it can accommodate up to 140 personnel.
The rig is designed for a maximum water depth of 10,000ft and is outfitted for 6,500ft.
In Brazil, Transocean has secured a 1,095-day extension for the Deepwater Orion from Petrobras, directly following its current activities.
This extension will add roughly $420m to the backlog, covering commitments until March 2030.
The existing backlog will see a reduction of about $20m prior to the extension starting in March 2027.
The Deepwater Orion is an ultra-deepwater, dual-activity drillship of the Enhanced Samsung 10000 design.
Built by Samsung Heavy Industries in South Korea, it began service in 2011.
The vessel measures 748ft in length, 138ft in beam, and 62ft in depth. It can accommodate up to 200 people.
Designed and outfitted for a maximum water depth of 10,000ft, the vessel is capable of drilling to depths of 35,000ft.
Additionally, Petrobras awarded a 365-day extension for the Deepwater Aquila, thereby maintaining operations until June 2028.
The extension is expected to add approximately $160m in incremental backlog and keep the rig contracted through June 2028. Before the extension period begins, from 1 April 2026 to the start of the extension in June 2027, a period of about 450 days, the existing backlog is expected to decline by roughly $10m.
The Deepwater Aquila is an ultra-deepwater, dual-activity drillship based on the DSME Ultra Deepwater Drillship design.
It was constructed at the DSME Shipyard in Korea and entered service in 2023.
The dimensions are 782.1ft in length, 137.8ft in beam, and 62.3ft in depth, with accommodation for 200 people.
Transocean provides offshore contract drilling services for oil and gas wells globally. The company focuses on ultra-deep-water and harsh environment drilling services.
In January 2026, the company secured a new contract and extension for its Deepwater Mykonos and Transocean Enabler drilling rigs, respectively, amassing a firm backlog of approximately $168m.
