BATON ROUGE, LOUISIANA (By Steve Stewart, Energy Analytics Institute, 1.Jul.2026, Words: 238) — Equinor entered into a letter of intent with Transocean for use of 3 Cat D rigs on the Norwegian continental shelf.Â
The agreement is worth around $1bn and will contribute to reducing well costs, accelerating the delivery of new wells and maintaining high production towards 2035, according to Equinor.
The contract value includes mobilization and is calculated based on a day rate below $400,000 over 7 rig years, Equinor said on 1 Jul. 2026 in an official statement.
The agreement applies to the Cat D rigs Transocean Enabler (3 years), Transocean Encourage (2 years) and Transocean Endurance (2 years). Integrated drilling services are optional and not included in the rate. The work scope for the rigs has not yet been allocated.
“Globally, the ambition is to deliver more than 125 wells annually, around 75 subsea projects and approximately 200 well plugging operations towards 2035,” Equinor revealed in the statement.
The Cat D rigs are semi-submersible floating rigs, adapted to Norwegian winter conditions and originally built on order from Equinor. They have operated on the Norwegian continental shelf since they were completed at the yard in 2015 and 2016.
Transocean Endurance has operated in Australia since 2023 and is now being brought back to Norway, increasing rig capacity on the Norwegian continental shelf.
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By Steve Stewart reporting from Baton Rouge. © 1999-2026 Energy Analytics Institute (EAI). All Rights Reserved.
