The Swiss-based rig owner and operator Transocean has won a 16-well contract in Australia for one of its semi-submersible drilling rigs.
The rig in question is the 2015-built Transocean Equinox which won work from an undisclosed consortium of four operators.
which won work from an undisclosed consortium of four operators.The estimated 380-day campaign contributes around $184 million in backlog, excluding full compensation for mobilization and demobilization. The engagement also includes options that, if fully exercised, could keep Transocean Equinox working in Australia into 2028.
This new award is expected to begin in the first quarter of 2025 in direct continuation of the rig’s previously announced five-well, 300-day commitment in Australia with an unnamed major operator, currently expected to start in the first quarter of 2024.
The 300-day deal contributed around $137 million in firm backlog, excluding full payment for mobilization and a demobilization fee.
The contract also provides for a one-well option, potentially keeping the harsh environment semisubmersible in Australia through the first quarter of 2025.
