Transocean Ltd. announced a minimum 540-day contract for the Transocean Barents with OMV Petrom S.A. in the Romanian Black Sea at a rate of $465,000 per day, excluding additional services.

The program is expected to commence in the first quarter of 2025 and is estimated to contribute approximately $251 million in backlog, excluding full compensation for mobilization and a demobilization fee. For each day over 540 days, including the two option periods, the operating dayrate will be $480,000.