Shell and Equinor fuel $1.1 billion backlog uptick for Transocean

Transocean gets its hands on a North Sea contract for a semi-submersible with Shell and a final approval for three rigs from Equinor.

Transocean gets its hands on a North Sea contract for a semi-submersible with Shell and a final approval for three rigs from Equinor.

2 minutes read LinkedIn X Email Transocean Norge Source: Transocean Switzerland-based offshore drilling contractor Transocean has tucked under its belt a combined $1.1 billion in offshore commitments, bolstered by a fresh North Sea deal with A/S Norske Shell, a subsidiary of the UK-headquartered energy giant Shell, and the official final approval of a massive three-rig agreement with the Norwegian state-owned energy heavyweight Equinor off the coast of Norway.

The Transocean Norge semi-submersible rig has won a two-well contract with A/S Norske Shell.

The estimated 120 days of work is expected to begin in direct continuation of the rig's previously awarded programs in Norway and contribute approximately $62 million in backlog, excluding additional services.

This contract also includes one single-well option.

Transocean Norge is said to be the first semi-submersible rig that secured the Abate (Power+) notation for greenhouse gas abatement.

With a maximum drilling depth of 40,000 feet, the 2019-built sixth-generation Moss Maritime CS60 semi-submersible rig was constructed at Jurong Shipyard in Singapore and can accommodate 150 people.

In late September, the rig owner received final approval from Equinor for the previously announced agreement for three harsh environment semi-submersible rigs in Norway, including the 2016-built Transocean Enabler , the 2015-built Transocean Encourage , and the 2015-built Transocean Endurance units.

Transocean gets its hands on a North Sea contract for a semi-submersible with Shell and a final approval for three rigs from Equinor.