Transocean Ltd. announced contract fixtures for two of its harsh environment semisubmersibles. Together, the fixtures represent approximately $113 million in firm contract backlog.

Transocean Endurance was awarded a multi-well plug and abandonment contract in Australia with an independent operator. The estimated 240-day contract is expected to commence in January 2024 and contribute approximately $91 million in backlog, excluding fees for mobilization. The contract also provides for a series of options, potentially keeping the rig in Australia through the fourth quarter of 2025.

In Norway, Wintershall DEA exercised a one-well option on Transocean Norge. The well is expected to commence in May 2023 ahead of the existing firm term for 60 days and contribute approximately $22 million in backlog.

“These fixtures represent additional evidence of the strength of this cyclical recovery, notably for our harsh environment assets,” said Jeremy Thigpen, Transocean’s Chief Executive Officer. “Coupled with the awards for the Transocean Enabler and Transocean Encourage that were recently announced, we have added an incremental $494 million in backlog from our high-specification harsh environment fleet.”

About Transocean

Transocean (NYSE: RIG) is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on 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 37 mobile offshore drilling units, consisting of 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing one ultra-deepwater drillship and holds a noncontrolling ownership interest in a company that is constructing another ultra-deepwater drillship.