Transocean has secured a contract for the semi-submersible drilling rig Transocean Arctic. It will be used for drilling in the Alvheim and Volund fields, offshore Norway.
The news was revealed on Monday by Det norske oljeselskap, a Norwegian oil company for which the rig will be operating.
According to Det norske, the contract scope for drilling of four wells in the Alvheim area will take up to 250 days and has a value of approximately $44.75 million excluding options.
The contract will start during December 2016 and involves the drilling of one exploration well at West Volund in license 150B, and three production wells – two wells in license 150 and one in license 203 / 088BS respectively.
The award is for a traditional well contract based on a daily rate and with several flexible options built into the agreement.
The Transocean Arctic is a harsh environment midwater semi-submersible drilling rig also certified for drilling wells in the Barents Sea and under HPHT (high pressure and high temperature) conditions.