Transocean Ltd. (NYSE: RIG) has introduced a number of contract awards over the previous couple of days.
On March 29, the corporate revealed contract fixtures for 2 of its harsh atmosphere semisubmersibles – the Transocean Endurance and the Transocean Norge.
As a part of the offers, the Transocean Endurance was awarded a multi-well plug and abandonment contract in Australia with an impartial operator, Transocean highlighted. The estimated 240-day contract is predicted to start in January 2024 and contribute roughly $91 million in backlog, excluding charges for mobilization, the corporate famous, including that the contract additionally gives for a sequence of choices, “probably retaining the rig in Australia by way of the fourth quarter of 2025”.
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In Norway, Wintershall DEA exercised a one-well possibility on Transocean Norge, Transocean mentioned. The properly is predicted to start in Could 2023 forward of the present agency time period for 60 days and contribute roughly $22 million in backlog, Transocean famous.
“These fixtures signify further proof of the power of this cyclical restoration, notably for our harsh atmosphere belongings,” Jeremy Thigpen, Transocean’s Chief Govt Officer, mentioned in an organization assertion.
On March 28, Transocean introduced awards for 2 separate harsh atmosphere semisubmersibles – the Transocean Enabler and the Transocean Encourage.
As a part of these offers, the Transocean Enabler will present drilling companies for 19 agency wells and as much as eight optionally available wells for Equinor on the Johan Castberg discipline within the Barents Sea, Transocean revealed. The estimated 570-day contract is predicted to start in April 2024 and contribute roughly $217 million in backlog, excluding further companies and potential efficiency bonuses, the corporate famous.
The Transocean Encourage will present drilling companies for 9 agency wells for Equinor within the Norwegian North Sea, Transocean said. The 460-day contract is predicted to start in December 2023 in direct continuation of the rig’s present program and is anticipated to contribute roughly $165 million in backlog, excluding further companies and potential efficiency bonuses.
Transocean additionally highlighted that, as a part of the Enabler and Encourage contracts, every rig will obtain customer-paid upgrades to digital administration methods, robotics, and operational automation. These upgrades are anticipated to additional cut back emissions from the rig and improve personnel security, Transocean famous.
The corporate additionally mentioned that it and Equinor have entered right into a strategic collaboration settlement to discover future alternatives in areas reminiscent of know-how improvement, operational effectivity, and environmental sustainability.
“We’re happy to safe these new contracts and to additional strengthen our relationship with Equinor,” Jeremy Thigpen, Transocean’s Chief Govt Officer, mentioned in an organization assertion.
“These contracts and our strategic collaboration settlement show our long-term dedication to working collectively to supply modern options that ship worth to each our corporations,” he added.
In an announcement posted on its web site, Equinor confirmed that, on behalf of a number of licenses, it had awarded contracts for the usage of the Transocean Encourage, primarily within the Norwegian Sea, and the Transocean Enabler, for the Johan Castberg discipline. The corporate additionally confirmed the signing of a strategic collaboration settlement with Transocean.
Equinor identified that the rigs have been on eight-year contracts with Equinor that expire on December 1, 2023 and April 1, 2024, respectively. This would be the first contract extension because the rigs have been constructed, as so-called Cat D rigs, specialised for Norwegian circumstances, Equinor famous.
“We’re happy to signal a strategic collaboration settlement with Transocean, which is certainly one of our largest rig suppliers,” Mette H. Ottøy, Equinor’s Chief Procurement Officer, mentioned in an organization assertion.
“This displays our notion of Transocean as a serious contributor to {our capability} to appreciate our offshore ambitions additionally within the years forward. Now we have been working intently for a few years and at the moment are additional increasing this cooperation by reserving one rig for the drilling of each manufacturing and exploration wells within the Norwegian Sea, and one rig for the event of the Johan Castberg discipline,” he added.
Erik G. Kirkemo, Equinor’s Senior Vice President for Drilling and Effectively, mentioned, “we at the moment are securing scorching rigs, which we, along with Transocean, have already invested in upgrading, thus bettering security, lowering emissions and growing effectivity”.
“Working for us for the previous eight years, we already know the rigs properly. We subsequently have lots of expertise to construct on, and we stay up for persevering with our collaboration delivering protected and environment friendly wells,” he added.
The Transocean Endurance, Enabler and Encourage are all have lodging for 130 folks, a most water depth of 500 meters, and a most drilling depth of 8,500 meters, in response to Transocean’s website. The Transocean Norge has lodging for 150 folks, most water depth of 1,000 meters, and a most drilling depth of 12,200 meters, Transocean’s website exhibits.
To contact the writer, e mail andreas.exarheas@rigzone.com
Photograph Credit score – iStock.com/bomboman
