Offshore drilling contractor Transocean added approximately $1.1 billion to its firm contract backlog. This increase primarily stems from final approval of a previously announced agreement with Equinor. The Equinor contract converts approximately $1 billion into Transocean's firm backlog.
The Equinor deal secures three harsh-environment semisubmersible rigs for operations in Norway. These rigs are the Transocean Enabler, Transocean Encourage, and Transocean Endurance.
The remaining backlog increase comes from a new $62 million contract. This separate agreement is with A/S Norske Shell for the Transocean Norge rig. The rig will also perform work in Norway.