By Katherine Hamilton
Transocean signed an agreement with Equinor to use three of its harsh environment submersible rigs on the Norwegian shelf.
The deal is worth more than $1 billion in contract backlog over seven rig years, excluding additional services, the offshore drilling company Transocean said Wednesday.
The base day rate is $399,000 a day. It applies three Cat D rigs designed for Norwegian winter conditions.
The rigs were built by Equinor specifically for three of Transocean's programs, which are slated to start in 2027 and 2028.
Write to Katherine Hamilton at katherine.hamilton@wsj.com