Transocean secures US$172 million contract extension for harsh environment semisubmersible

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OilNOW
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Transocean announced on July 5 that six one-well options have been exercised for the Transocean Encourage in Norway. The rig is in use by Equinor. The estimated 370 days of work will contribute approximately US$172 million in backlog.

The work is expected to commence in direct continuation of the current firm term and now extends through February 2026.Transocean Ltd. is a leading international provider of offshore contract drilling services for oil and gas wells. It is known in Guyana for its Transocean Deepwater Champion which hit pay at the Liza field offshore Guyana, delivering what was the largest deepwater discovery in the world during that period, kicking off Guyana’s incredible growth story.

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