(WO) — Transocean has added roughly $1.1 billion to its agency offshore drilling backlog following closing approval of a beforehand introduced $1 billion settlement with Equinor and a brand new $62 million drilling contract with A/S Norske Shell offshore Norway.
The brand new Shell contract covers two wells utilizing the Transocean Norge semisubmersible drilling rig. This system is anticipated to final roughly 120 days and can start instantly following the rig’s beforehand awarded drilling packages in Norway.
The contract will contribute roughly $62 million in agency backlog, excluding extra providers, and contains an possibility for one extra nicely.
Individually, Transocean acquired closing approval in late September for its beforehand introduced settlement with Equinor overlaying three harsh-environment semisubmersible rigs working offshore Norway.
The settlement contains the Transocean Enabler, Transocean Encourage and Transocean Endurance. With closing approval secured, the roughly $1 billion contract worth has been transformed into agency backlog.
Collectively, the Shell award and Equinor approval characterize roughly $1.1 billion in additions to Transocean’s agency contract backlog, strengthening its contracted drilling exercise on the Norwegian Continental Shelf.