Transocean Wins $158m Five-Well Deepwater Asgard Contract Starting Q4 2026
Transocean secured a $158m five-well contract for its Deepwater Asgard drillship in the Eastern Mediterranean, commencing Q4 2026 and running 390 days. The deal is part of new awards—including in Norway and Brazil—that have raised Transocean’s backlog by roughly $1.6bn since early April.
1. Contract Award and Scope
Transocean has secured a $158m contract for the Deepwater Asgard ultra-deep-water drillship to perform drilling operations on five wells in the Eastern Mediterranean, with the operator’s identity not disclosed.
2. Project Timeline and Duration
The program is set to begin in Q4 2026 and run for approximately 390 days, excluding any additional services or compensation related to vessel mobilization and demobilization.
3. Deepwater Asgard Vessel Specifications
Built in 2014 at the DSME shipyard, the Deepwater Asgard is a 238m × 42m DSME 12000 drillship rated for water depths up to 12,000 ft and drilling to 40,000 ft, accommodating up to 200 personnel.
4. Backlog Growth and Fleet Impact
This contract joins recent awards for Transocean Barents, Deepwater Orion, Deepwater Aquila and Deepwater Corcovado, lifting Transocean’s backlog by about $1.6bn since early April and bolstering utilization across its 27-unit fleet.