NewsThe Offshore Frontier

Transocean: $100 million option exercised for semisubmersible

Transocean announced that a two-well option was exercised in Norway for the Transocean Spitsbergen, a harsh environment semisubmersible. The program is expected to start in Q1 2026 in direct continuation of the rig’s current program and contribute approximately $100 million in backlog, excluding additional services.

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