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Transocean Signs Over $1B Agreement With Equinor For Three Of its Harsh Environment Semisubmersible Rigs On Norwegian Shelf

Transocean Ltd. (NYSE: RIG ) ("Transocean") today announced its entry into an agreement with Equinor, conditional to license approvals, for the use of three of its harsh environment semisubmersible rigs on the Norwegian shelf. In aggregate, this agreement is worth over $1 billion in contract backlog over seven rig years, excluding additional services. The base day rate of $399,000 per day excludes adjustment provisions that will be effective prior to commencement and result in an effective day rate exceeding $400,000 per day at commencement.

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SQUAWKNEWS 1 updates Updated Jun 30, 2026, 08:24 PM UTC

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08:24:14 PM UTC
SQUAWKNEWS
Agreement covers Transocean Enabler, Transocean Encourage and Transocean Endurance, conditional to license approvals. - Base day rate is $399,000/day, excluding adjustment provisions effective before commencement that will result in an effective day rate above $400,000/day at commencement. - Transocean Enabler and Transocean Encourage are expected to start three-year and two-year programs in Q1 2028, respectively; Transocean Endurance is expected to start a two-year program in Q2 2027 after mobilization back to Norway from Australia.

Transocean Ltd. (NYSE: RIG ) ("Transocean") today announced its entry into an agreement with Equinor, conditional to license approvals, for the use of three of its harsh environment semisubmersible rigs on the Norwegian shelf.

In aggregate, this agreement is worth over $1 billion in contract backlog over seven rig years, excluding additional services.

The base day rate of $399,000 per day excludes adjustment provisions that will be effective prior to commencement and result in an effective day rate exceeding $400,000 per day at commencement.