Transocean Ltd. Announces Contract Award and Extension

Transocean Ltd. (Transocean) announced contract fixtures for two of its harsh environment semisubmersibles in Norway. In aggregate, the fixtures represent approximately $184 million in firm contract backlog.

The Transocean Encourage was awarded a seven-well contract extension. The estimated 365 days of work is expected to commence in the first quarter of 2027 in direct continuation of the rig’s current program and contribute approximately $152 million in backlog, excluding additional services.

Two one-well options have been exercised for the Transocean Enabler in direct continuation of the rig’s current activity. The incremental 70 days of work are expected to contribute approximately $32 million in backlog, excluding additional services, and commit the rig through December 2027.

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