Transocean Ltd. received $161 million in contract fixtures for three of its harsh environment semisubmersibles, the company announced June 4. 

The Transocean Spitsbergen, located in Norway, was awarded a three-well contract extension with Equinor. The program, which could contribute approximately $72 million in backlog, is expected to begin in the fourth quarter of 2025 in direct continuation of the rig’s current program.

 The extension includes options for up to six additional wells.

Transocean Norge was awarded a three-well contract extension by Wintershall Dea. The estimated 140-day program is set to begin in the first quarter of 2028 in direct continuation of the rig’s current program and contribute approximately $71 million in backlog.

In Australia, Woodside exercised its second option for the Transocean Endurance. The 45-day well will contribute $18 million in backlog and will begin in direct continuation of the rig’s current program.

“These fixtures are emblematic of the continued strength of the high-specification harsh environment market,” said Jeremy Thigpen, Transocean’s CEO. “Our customers are contracting rigs up to four years in advance, reinforcing our confidence in the strength and longevity of this upcycle.”

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