Transocean Wins Multi-well NCS Contract for New Semisub
Equinor has awarded Transocean Ltd. a six-well contract on the Norwegian Continental Shelf (NCS) for its newbuild, harsh-environment Transocean Norge semisubmersible, Transocean reported Friday.
“We are very pleased to have so quickly secured a contract for the Transocean Norge, which we recently acquired through our joint venture with Hayfin,” Transocean President and CEO Jeremy Thigpen said in a written statement. “this contract provides further evidence of the strong demand for high-specification, harsh environment semisubmersibles, and of the relationship and history of solid performance that we have with Equinor.”
Transocean noted that the estimated 300-day contract should comment in July 2019 after the rig’s shipyard delivery early next year. The company added that it will operate the Transocean Norge and owns a 33-percent interest in the rig. Hayfin Capital holds the remaining 67-percent stake.
In May of this year Transocean announced that it had purchased its interest in the rig, which is being built by Sembcorp Marine Ltd.’s Jurong Shipyard Pte Ltd. in Singapore. The harsh environment rig will apply a Moss Maritime CS60 design, will be able to operate in a water depth up to 10,000 feet and is considered one of the world’s most capable newbuild semisubs, the company has stated.
According to Transocean, the contract backlog is approximately $89 million, excluding a bonus opportunity and other services. The company stated that the contract includes four one-well options and is denominated roughly 55 percent in U.S. dollars and the remainder in Norwegian kroner.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- UK Oil Regulator Publishes New Emissions Reduction Plan
- PetroChina Posts Higher Annual Profit on Higher Production
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea