Transocean Ltd. (NYSE: RIG) (“Transocean”) today announced a contract award and an extension, respectively, for two of its drilling rigs. Together, the fixtures represent approximately $168 million of firm backlog.

In Brazil, the Deepwater Mykonos was awarded a contract with bp. The estimated 302-day campaign is expected to begin in the third quarter of 2026 and contribute approximately $120 million in backlog, excluding additional services and compensation for mobilization and demobilization.

In Norway, three one-well options have been exercised for the Transocean Enabler. The incremental 105 days of work, which is in direct continuation of the rig’s current activity, is expected to contribute approximately $48 million in backlog and commits the Enabler through September 2027.

About Transocean

Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on ultra-deepwater and harsh environment drilling services and operates the highest specification floating offshore drilling fleet in the world.

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.

About bp

bp (NYSE: BP, LSE: BP.L) is one of the world's largest oil and gas companies, serving millions of customers every day in more than 80 countries, and employing nearly 85,000 people. BP's business segments are oil and gas exploration & production, and refining & marketing. In alternative energies, BP has low- and no-carbon wind and biofuels businesses. Through these activities, BP provides fuel for transportation; energy for heat and light; services for motorists; and petrochemicals products for plastics, textiles and food packaging. It has strong positions in many of the world's hydrocarbons basins and strong market positions in key economies.