Transocean’s rig trio scoops up $1 billion for drilling work in Norwegian waters

July 1, 2026, by Melisa Cavcic

Switzerland-based offshore drilling contractor Transocean has lined up assignments for three of its harsh environment semi-submersible rigs with Norway’s state-owned energy giant Equinor on the Norwegian Continental Shelf (NCS).

Transocean Encourage rig; Source: Transocean

Transocean has entered into an agreement with Equinor, conditional on license approvals, for the use of three of its harsh environment semi-submersible rigs off the coast of Norway.

The rig owner emphasizes that the base day rate of $399,000 per day excludes adjustment provisions that will be effective before the start of work and result in an effective day rate exceeding $400,000 per day at commencement.

This deal is worth over $1 billion in contract backlog over seven rig years, excluding additional services. The assignment applies to three Cat D rigs, which are designed for Norwegian winter conditions and originally purpose-built for Equinor.

Keelan Adamson, Transocean’s Chief Executive Officer, commented: “This agreement for seven rig years demonstrates the strength and resilience of Norway’s high-specification harsh environment market and our strong relationship with Equinor.

“Together with Equinor, we will continue to drive rig efficiency, improve the cost-effectiveness of wells, and prioritize safe and reliable operations.”

The Transocean Enabler rig has secured a three-year program, which is expected to begin in the first quarter of 2028 in direct continuation of the rig’s current program.

The Transocean Encourage rig has landed a two-year campaign anticipated to kick off in the first quarter of 2028 in direct continuation of the rig’s current job.

The Transocean Endurance rig has obtained a two-year program that is slated to commence in the second quarter of 2027, after mobilization back to Norway from Australia.

The latest rig assignments come shortly after Transocean won deals for two of its harsh environment semi-submersible rigs in Norwegian and Australian waters.