Transocean clinches 22-well contract for harsh environment semisubmersible Transocean Spitsbergen
Transocean Ltd. (NYSE:RIG) announced today that the harsh environment semisubmersible Transocean Spitsbergen was awarded a 22-well contract with an estimated duration of 33 months; plus two one-well options in the Norwegian North Sea with Statoil Petroleum ASA, the Company said in a press release.
The estimated firm backlog associated with the contract is approximately $286 million, which excludes opportunities for performance incentives. The contract is expected to commence in the third quarter of 2019.
“We are extremely pleased to have once again contracted the Transocean Spitsbergen with Statoil,” said Jeremy Thigpen, President and Chief Executive Officer. “This contract is a testament to the capability, reliability and efficiency of the asset, the expertise and professionalism of our crews and shorebased support, and the strength of our relationship with Statoil. We look forward to this opportunity to continue to exceed Statoil’s performance expectations.”
About Transocean
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world.
Transocean owns or has partial ownership interests in, and operates a fleet of 39 mobile offshore drilling units consisting of 26 ultra-deepwater floaters, seven harsh environment floaters, two deepwater floaters and four midwater floaters. In addition, Transocean has three ultra-deepwater drillships under construction or under contract to be constructed. The company also operates two high-specification jackups that were under drilling contracts when the rigs were sold, and the company continues to operate these jackups until completion or novation of the drilling contracts.
