Transocean bags $181m contract extension for Transocean Spitsbergen

Transocean has bagged a $181 million worth contract extension from Equinor Energy for its harsh environment semisubmersible Transocean Spitsbergen drilling rig in Norwegian waters.

The contract extension covers the drilling of an additional nine wells and comes with a couple of one-well options, said the Switzerland-based offshore drilling contractor.

According to Transocean, the extended contract is likely to start in October 2023 and will be completed in April 2025.