Transocean Ltd. announced on 2 April 2026 that it has secured new contracts and extensions for three rigs in Norway and Brazil, adding approximately $1.0 billion in total incremental firm contract backlog.
Norway in harsh Environment Semi-SubmersibleThe Transocean Barents was awarded a new 1,095-day (three-year) contract with Vår Energi ASA.Dayrate: $450,000, excluding additional services.
Commencement is Expected by the middle of Q2 2027.
Backlog Contribution Approximately $490 million.
Extension Options Includes options that could keep the rig working in Norway until 2034.
Brazil Ultra-Deepwater DrillshipsPetrobras has extended contracts for two drillships in direct continuation of their current programs
Deepwater Orion Duration 1,095-day extension (three years), committing the rig through March 2030.
Backlog Contribution Approximately $420 million.
Deepwater Aquila, Duration 365-day extension (one year), committing the rig through June 2028.
Backlog Contribution Approximately $160 million.
Financial UpdateAlongside these awards, Transocean retired $358 million of its 8.375% Senior Secured Notes due 2028 on 20 March 2026, a move expected to save roughly $39 million in interest expenses.
Note By Alessandro Bazzoni