Transocean Ltd. Announces Six-Well Contract for Transocean Norge
(WorldNews Switzerland)

STEINHAUSEN, Switzerland, Sept. 21, 2018 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG) announced today that the newbuild, harsh environment semisubmersible Transocean Norge was awarded a six-well contract (estimated 300 days) with Equinor in the Norwegian Continental Shelf. The contract is expected to commence in July 2019, following the shipyard delivery of the rig in early 2019. Transocean will operate the Transocean Norge and has a 33% interest in the joint venture that owns the rig, with the remaining 67% interest owned by Hayfin Capital. The contract backlog is approximately $89 million, excluding a bonus opportunity and other services. The contract is denominated approximately 55% in...