Equinor Wins Two Rig Contracts, Collaboration Agreement with Transocean  

Equinor Wins Two Rig Contracts, Collaboration Agreement with Transocean    
Digital contract signings, from left: Erik G. Kirkemo, senior vice president for Drilling & Well in Equinor, Mette H. Ottøy, chief procurement officer in Equinor, Knut Vavik, operations director for Transocean in Norway and Keelan Adamson, president and chief operating officer for Transocean. (Photo: Kjetil Eide / Equinor)

Equinor, on behalf of number of licenses, has won two rig contracts for the use of Transocean Encourage, mainly in the Norwegian Sea, and Transocean Enabler, for the Johan Castberg field. The companies also signed a strategic collaboration agreement at the same time.

The two rigs have been eight-year contracts with their expiration dates being on 1 December 2023 and 1 April 2024, respectively. Since the rigs were constructed as so-called Cat D rigs, that were specialized for Norwegian conditions, this will be the first contract extension.

Nine wells will be drilled as part the Norwegian Sea consists drilling program on the Tyrihans, Verdande, Andvare and Vigdis fields located in the Tampen area of the North Sea.

The nine wells total value estimation is about $191 million, and the drilling campaign is expected to start on 1 December.

Transocean Enabler will have a fixed drilling program of 19 wells on the Johan Castberg field and options on an additional eight wells. The expected overall contract value is $415 million, of which $295 million is the fixed share. The new agreement will go into force on April 1, 2024, and end on July 1, 2024.

“We are pleased to sign a strategic collaboration agreement with Transocean, which is one of our largest rig suppliers. This reflects our perception of Transocean as a major contributor to our capability to realize our offshore ambitions also in the years ahead. We have been working closely for many years, and are now further expanding this cooperation by reserving one rig for the drilling of both production and exploration wells in the Norwegian Sea, and one rig for the development of the Johan Castberg field,” says Mette H. Ottøy, Equinor’s chief procurement officer.

The strategic collaboration agreement will promote technological advancements and innovation in areas like as greenhouse gas emissions, efficiency, and safety.






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