Equinor awards pair of contracts to Transocean semisubmersibles
Equinor has awarded contracts for the use of Transocean Encourage in the Norwegian Sea and the Transocean Enabler in the Johan Castberg field. At the same time, the companies have also announced a strategic collaboration agreement.
The rigs have been on eight-year contracts with Equinor that expire in December 2023 and April 2024, respectively. This will be the first contract extension since the Cat D rigs, which are specialized for Norwegian conditions, were built.
The drilling program in the Norwegian Sea consists of nine wells to be drilled on the Tyrihans, Verdande, Andvare and Vigdis fields located in the Tampen area of the North Sea.
Verdande and Andvare will be tied in to the Norne field. The drilling program also include exploration wells, and may be further extended, adding six wells. The estimated total value of the nine wells is about $191 million, and the drilling campaign is expected to start on 1 December.
On the Johan Castberg field, Transocean Enabler will have a fixed drilling program of 19 wells and options on another eight wells. The total contract value is estimated at $415 million, the fixed part accounting for $295 million. The new contract will come into effect between 1 April and 1 July 2024.