Norwegian power titan Equinor revealed today it has actually granted Transocean a six-well agreement on the Norwegian continental rack (NCS) for the newbuild extreme setting exploration gear Transocean Norge.

Drilling startup is set up for the summertime of 2019 upon shipment of the gear.

The agreement likewise consists of alternatives for piercing 4 extra wells and also “is intended for subsequent continuing options”, Equinor claimed in a declaration.

Transocean has a previously-signed a structure contract withEquinor Transocean Spitsbergen was the very first gear to be consisted of under the contract terms, and also Transocean Norge will certainly be the 2nd.

The agreement worth for the 6 wells is approximated at roughly USD 89 million. The solutions covered by the agreement consist of exploration solutions such as slop therapy and also cuttings managing, and also component of the mobilization cost, Equinor claimed.

Transocean claimed the preliminary agreement is approximated at 300 days and also is anticipated to begin in July 2019.

The 6 wells will certainly be pierced in the Tordis/Vigdis, Visund, Bauge and also Snorre licenses.

“We are pleased to sign an agreement with a new, efficient, state-of-the-art rig, and to continue our good cooperation with this company. We have a common goal of working safely and efficiently, and we look forward to seeing the rig in operation for Equinor from next year. This is one of the rigs we have chosen for a long-term cooperation,” states Geir Tungesvik, Equinor’s elderly vice head of state for Drilling & & Well.

The Transocean Norge is 67% had by Hayfin Capital Management and also 33% had by Transocean The gear is made for extreme settings such as the NCS.

“We are very pleased to have so quickly secured a contract for the Transocean Norge, which we recently acquired through our joint venture with Hayfin,” claimed Jeremy Thigpen, Transocean’s President and alsoChief Executive Officer “This contract provides further evidence of the strong demand for high-specification, harsh environment semisubmersibles, and of the relationship and history of solid performance that we have with Equinor.”