Transocean lands 22-well contract with Statoil

Transocean lands 22-well contract with Statoil

Offshore driller Transocean has been awarded a contract for the harsh environment semi-submersible rig Transocean Spitsbergen by Statoil.

22 Dec. 2017

According to Transocean’s statement on Thursday, the rig has received a 22-well contract with an estimated duration of 33 months; plus two one-well options in the Norwegian North Sea.

The estimated firm backlog associated with the contract is approximately $286 million, which excludes opportunities for performance incentives. The contract is expected to start in the third quarter of 2019.

“We are extremely pleased to have once again contracted the Transocean Spitsbergen with Statoil,” said Jeremy Thigpen, President and Chief Executive Officer.

Earlier on Thursday, Statoil submitted the plan for development and operation (PDO) of the Snorre expansion project to the Norwegian authorities. At the same time, the oil company awarded contracts for the subsea production system with TechnipFMC, fabrication and installation of the pipeline bundle system with Subsea 7, modification work on Snorre A with Aibel and a rig contract with Transocean.

The total value of the contracts is up to NOK 9 billion ($1.76B).

Earlier this year, the Spitsbergen was  employed on Statoil’s UK drilling campaign. The third and last well in this campaign tested the Verbier prospect. The semi-sub was also hired for a six-well production drilling campaign on the Aasta Hansteen license off Norway. This gig is planned to start towards the end of 2017 or the beginning of 2018. Read More


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