Transocean Ltd. has gained job extensions totaling $160 million for 3 harsh atmosphere submersibles in Australia and Norway.
In Norway, Transocean Spitsbergen obtained a three-well contract extension from Equinor, with an choice for as much as six extra wells. “This system is anticipated to begin within the fourth quarter of 2025 in direct continuation of the rig’s present program and contribute roughly $72 million in backlog, excluding further companies”, the corporate stated in a press launch.
Final 12 months Spitsbergen made the Røver Sør discovery within the Troll subject on the Norwegian aspect of the North Sea. The invention is estimated to carry 17 million to 47 million barrels of recoverable oil equal, largely oil, Norway’s majority state-owned Equinor stated in a press release February 9, 2023.
“We’ll drill between 20 and 30 exploration wells every year transferring ahead”, Equinor stated then.
Additionally within the Nordic nation Wintershall Dea AG awarded Transocean Norge a three-well extension. “The estimated 140-day program is anticipated to begin within the first quarter of 2028 in direct continuation of the rig’s present program and contribute roughly $71 million in backlog, excluding further companies”, Transocean stated.
Final February Norge accomplished drilling of an appraisal nicely within the Adriana fuel and condensate discovery. It encountered “high-quality reservoirs within the major goal throughout the Cretaceous Lysing Formation”, Wintershall Dea stated February 29, 2024. The drilling outcomes raised estimated recoverable volumes to between 28 million and 43 million barrels of oil equal.
“A deliberate sidetrack to appraise the deeper Sabina discovery needed to be deserted for technical causes”, Kassel, Germany-based Wintershall Dea stated on the time. “The partnership will think about re-entry throughout 2024 or 2025.
“The Transocean Norge rig has now moved to the Wintershall Dea operated Maria subject to begin drilling operations in relation to the Maria Part 2 growth”.
In Australia Woodside Power Group Ltd. exercised an choice to renew Transocean Endurance’s contract. “The estimated 45-day nicely is anticipated to begin in direct continuation of the rig’s present program and contribute roughly $18 million in backlog”, Transocean stated.
Final April 19 Perth-based Woodside stated Endurance began a 10-well plug and abandonment mission within the Stybarrow subject.
Transocean chief government Jeremy Thigpen stated in a press release, “These fixtures are emblematic of the continued energy of the high-specification harsh atmosphere market”.
“Our prospects are contracting rigs as much as 4 years prematurely, reinforcing our confidence within the energy and longevity of this upcycle”, Thigpen added.
In one other growth, a Transocean subsidiary signed Monday a non-binding letter of intent with sure funds managed or suggested by Hayfin Capital Administration LLP to amass the excellent fairness pursuits within the three way partnership that owns Transocean Norge. Presently Transocean owns a 33 p.c stake and Hayfin has the remaining 67 p.c.
“The consideration within the proposed transaction is anticipated to be a mixture of strange shares of Transocean and senior notes issued by a subsidiary of Transocean”, Transocean stated in a regulatory submitting.
To contact the creator, electronic mail jov.onsat@rigzone.com
What do you suppose? We’d love to listen to from you, be part of the dialog on the
Rigzone Power Community.
The Rigzone Power Community is a brand new social expertise created for you and all power professionals to Communicate Up about our trade, share information, join with friends and trade insiders and have interaction in an expert group that may empower your profession in power.