Transocean Ltd. announces contract awards and extensions totalling US$488 million

Deepwater Invictus, an ultra-deepwater drillship, was awarded a new three-well contract with an estimated 100-day duration in the US Gulf of Mexico with an independent operator. The contract contributes an estimated US$43 million in backlog and is expected to commence in direct continuation of the rig’s current programme.

Transocean Barents, a harsh environment semi-submersible, was awarded a new one-well contract with an estimated 110-day duration in the UK North Sea with a major operator. The contract contributes an estimated US$34 million in backlog and is expected to commence in the first quarter of 2023.

Additionally, Harbour Energy exercised the third option on its UK North Sea contract with Paul B. Loyd, Jr., a harsh environment semi-submersible, for eight P&A wells, adding an estimated US$48 million in backlog. The additional term is expected to last 275 days and extends the contract to the third quarter of 2024.

In Norway, certain previously disclosed options under the Transocean Norge contract with Wintershall DEA and OMV have now been added to backlog. The incremental term is expected to last 773 days and contribute an estimated US$331 million to backlog.

Finally, TotalEnergies exercised a one-well option on its contract with Development Driller III, an ultra-deepwater semi-submersible, working in Suriname. The incremental well is expected to last 90 days and contribute an estimated US$32 million in backlog.

Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/06012023/transocean-ltd-announces-contract-awards-and-extensions-totalling-488-million/