Friday – October 9, 2026
Oil & Gas

Transocean Adds Equinor Deal to Backlog with Norske Shell Contract Win

Transocean Ltd. (NYSE: RIG) announced a new contract award representing approximately $62 million in firm contract backlog and the formal approval of the previously announced Equinor agreement resulting in conversion of the $1.0 billion contract value to firm backlog.

The Transocean Norge was awarded a two-well contract with A/S Norske Shell. The estimated 120 days of work is expected to commence in direct continuation of the rig’s previously awarded programs in Norway and contribute approximately $62 million in backlog, excluding additional services. The contract also includes one single-well option.

In late September, final approval was received from Equinor for the previously announced agreement for three harsh environment semisubmersible rigs in Norway: Transocean Enabler, Transocean Encourage, and Transocean Endurance. The total contract value of approximately $1.0 billion is now included in Transocean’s backlog.

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