Switzerland-based offshore drilling contractor Transocean has landed a new contract extension for one of its semi-submersible rigs, which is working off the coast of Norway.
The two-well option, which has been exercised for the Transocean Spitsbergen rig in Norway, is expected to begin in the first quarter of 2026 in direct continuation of the semi-submersible’s current program, contributing approximately $100 million in backlog, excluding additional services.
The additional work follows a three-well extension of the rig’s existing program with Equinor on the Norwegian Continental Shelf (NCS), which was procured in October 2024.
The 2010-built Transocean Spitsbergen, a sixth-generation dual-derrick winterized semi-submersible rig capable of drilling high-pressure/high-temperature formations, has been working with Equinor for several years.
The Swiss drilling giant operates a rig fleet of 32 mobile offshore drilling units (MODU), consisting of 24 ultra-deepwater floaters and eight harsh environment floaters. The rig owner’s backlog was $7.9 billion in the fleet status report from April 2025.
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