Transocean Adds $1.1B to Offshore Drilling Backlog
October 9, 2026
Offshore drilling contractor Transocean has added approximately $1.1 billion to its firm contract backlog following final approval of a previously announced agreement with Equinor and a new drilling contract with Shell offshore Norway.
The company received final approval from Equinor in late September for an agreement covering three harsh-environment semisubmersible drilling rigs, converting approximately $1 billion in previously announced contract value into firm backlog.
The agreement covers semi-submersible rigs Transocean Enabler, Transocean Encourage and Transocean Endurance, all operating in Norway.
Separately, Transocean has been awarded a two-well drilling contract by Norske Shell for the Transocean Norge semi-submersible rig.
The contract is expected to generate approximately $62 million in firm backlog, excluding additional services, and covers an estimated 120 days of drilling operations.
Work is scheduled to begin immediately after the rig completes its previously awarded drilling programs in Norway. The agreement also includes an option for one additional well.
The Transocean Norge is a sixth-generation, Moss Maritime CS60-design semisubmersible built at Jurong Shipyard in 2015 and upgraded in 2018.
Transocean operates a fleet of 27 mobile offshore drilling units, comprising 20 ultra-deepwater floaters and seven harsh-environment floaters.
