Transocean locks $1.1bn backlog boost with Shell and Equinor deals
Swiss driller secures $62m Shell contract and finalises $1bn Equinor agreement for Norwegian shelf operations.
Transocean has expanded its contract backlog by approximately $1.1 billion after securing a new deal with Shell’s Norwegian subsidiary and finalizing a previously announced agreement with Equinor.
The Swiss offshore drilling company announced a two-well contract with A/S Norske Shell for its Transocean Norge semisubmersible rig, built in 2015. The work, estimated at 120 days, is set to begin immediately after the rig completes its current programs in Norway. The contract adds $62 million to Transocean’s backlog, excluding additional services, and includes an option for one more well.
Continuity for Transocean Norge in Norway
The Transocean Norge has been operating under a contract with Harbour Energy and OMV since June 2026, with a dayrate of $472,000. That agreement is scheduled to end in January 2028. Following this, Harbour Energy holds a firm contract for the rig from January to November 2028 at a higher dayrate of $513,000. If all priced options are exercised, the rig could remain contracted until March 2029.
Norwegian Cruise Line
The new Shell contract ensures the rig will transition seamlessly from its current work to the new program, maintaining operational continuity in the region.
Equinor deal finalized, boosting long-term backlog
Transocean also confirmed final approval from Equinor in late September for a $1 billion agreement covering three harsh-environment semisubmersible rigs: Transocean Enabler, Transocean Encourage, and Transocean Endurance. The deal adds seven rig years to Transocean’s backlog, excluding additional services.
The Transocean Enabler has been awarded a three-year program, expected to start in the first quarter of 2028, extending its current operations on the Norwegian shelf. Meanwhile, the Transocean Endurance, currently mobilizing from Australia, is set to begin a two-year program in the second quarter of 2027. All three rigs were designed for Norwegian winter conditions, ensuring reliability in harsh environments.
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