Transocean Secures 16-Well Contract for Transocean Equinox Rig in Australia

OE Staff
Thursday, June 29, 2023

Offshore drilling contractor Transocean has secured a 16-well contract for the Transocean Equinox semi-submersible drilling rig in Australia for a consortium of four operators. 

The 380-day campaign contributes approximately $184 million in backlog, excluding full mobilization and demobilization compensation.

The arrangement also includes options that, if fully exercised, could keep the Transocean Equinox drilling rig working in Australia into 2028.

This new award is expected to start in the first quarter of 2025 in direct continuation of the rig’s previously announced five-well, 300-day commitment in Australia with a major operator, currently expected to start in the first quarter of 2024.

Transocean did not say who the clients were. The rig was most recently used by Equinor in Norway before its contract expired in October 2022.

While the dayrate for the Transocean Equinox's latest was not explicitly stated in the contract announcement, based on the information available, one can calculate an approximate day rate. 

The contract is worth $184 million, and the campaign is estimated to last for 380 days, so the approximate day rate would be $184 million divided by 380 days, which is around $484,210 per day.


Categories: Drilling Australia/NZ Drilling Rigs

Related Stories

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

CNOOC Finds Oil and Gas in South China Sea

Santos and QatarEnergy Agree Mid-Term LNG Supply

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Fugro Expands Geotechnical Testing Capabilities in Indonesia

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Current News

PTTEP Acquires Southeast Asia’s Offshore Block from Chevron’s Hess Unit for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com