Transocean Secures $158M Drillship Job in Eastern Mediterranean

Offshore drilling contractor Transocean has secured a five-well contract for its Deepwater Asgard drillship in the Eastern Mediterranean Sea.

The estimated 390-day campaign with an undisclosed operator is expected to start in the fourth quarter of 2026 and contribute approximately $158 million in backlog, excluding additional services and compensation for mobilization and demobilization.

Inclusive of the recently announced fixtures on the Transocean Barents in Norway, and the Deepwater Orion, Deepwater Aquila, and Deepwater Corcovado in Brazil, total backlog additions approximate $1.6 billion since the beginning of April for Transocean, the company said.

Deepwater Asgard, built in 2014, is an ultra-deepwater drillship of DSME 12000 design. With a maximum drilling depth of 40,000 ft, the rig is able to operate in water depths of up to 12,000 ft, and can accommodate 200 people.