Transocean Nets $1B Rig Deals with Equinor Offshore Norway
July 1, 2026
Offshore drilling contractor Transocean has signed a conditional agreement with Equinor for the use of three harsh-environment semi-submersible rigs on the Norwegian continental shelf, adding more than $1 billion to its contract backlog.
The agreement, which is subject to license approvals, covers seven rig years and excludes additional services.
Transocean said the base day rate is $399,000 per day, excluding adjustment provisions that will take effect before the contracts begin and increase the effective day rate to more than $400,000 per day at commencement.
The agreement covers the Transocean Enabler, which is scheduled to begin a three-year program in the first quarter of 2028 following completion of its current assignment.
Transocean Enabler is a semi-submersible rig of CAT D (GVA 4000 NCS) type, built at Daewoo Shipbuilding & Marine Engineering in South Korea in 2016.
The Transocean Encourage is set to begin a two-year program in the first quarter of 2028, also in direct continuation of its current program.
Transocean Encourage, a CAT D semi-submersible rig, is a 6th generation fully winterized, harsh-environment semi-submersible rig build in 2016. It features automated drilling control specially designed for operations on the Norwegian continental shelf.
The Transocean Endurance will undertake a two-year program expected to start in the second quarter of 2027 after mobilizing back to Norway from Australia.
Transocean Endurance is of GVA 4000 NCS design, built in 2015, capable of operating at maximum water depth of 1,640 ft. (500 m), with maximum drilling depth of 27,887 ft. (8,500 m).
All three ‘Cat D’ semi-submersible rigs were designed for Norwegian winter conditions and were originally purpose-built for Equinor.
“This agreement for seven rig years demonstrates the strength and resilience of Norway’s high-specification harsh environment market and our strong relationship with Equinor. Together with Equinor, we will continue to drive rig efficiency, improve the cost-effectiveness of wells, and prioritize safe and reliable operations,” said Keelan Adamson, Transocean’s Chief Executive Officer.
Transocean owns or has partial ownership interests in and operates a fleet of 27 mobile offshore drilling units, consisting of 20 ultra-deepwater floaters and seven harsh environment floaters.
