Transocean has secured a new contract to deploy the ultra-deepwater drillship Deepwater Conqueror off the coast of Equatorial Guinea. The campaign is estimated to last 170 days and will add approximately $80 million to the company’s backlog.
The award involves the drilling of two wells for an undisclosed operator. Operations are scheduled to begin in 2027 as a direct continuation of the rig’s current work in the Gulf of Mexico.
Deepwater Conqueror to Drill Two Wells in Equatorial Guinea
Specifically, the campaign will allow Transocean to keep the Deepwater Conqueror engaged after completing its current contract in the Gulf of Mexico. This continuity reduces the interval between projects and positions the rig within a new sequence of offshore operations.
The contract will contribute approximately $80 million to Transocean’s backlog. This figure does not include additional services or compensation related to the mobilization and demobilization of the unit.
Therefore, the final economic value associated with the campaign could exceed this amount if these concepts are incorporated during project execution.
An Ultra-Deepwater Drillship
Furthermore, the Deepwater Conqueror is a DSME 12000 dual-activity drillship built by Daewoo Shipbuilding & Marine Engineering and delivered to Transocean in 2016.
The unit can operate in water depths of up to 12,000 feet, equivalent to approximately 3,658 meters. Its maximum drilling capacity reaches 40,000 feet, or approximately 12,192 meters.
Additionally, the rig has accommodation capacity for 240 people, a necessary feature for sustaining prolonged ultra-deepwater drilling operations.
These specifications position the Deepwater Conqueror within the fleet prepared for offshore campaigns that require working far from the coast and reaching targets located at great depths.
Campaign to Commence After Gulf of Mexico Work Concludes
Currently, the Deepwater Conqueror remains engaged in operations in the Gulf of Mexico. The rig recently secured a two-well contract extension with an unidentified operator, maintaining its scheduled activity until January 2027.
Likewise, the new campaign in Equatorial Guinea is scheduled to begin as a direct continuation of that contract. The timeline will allow the asset to be transferred from the Gulf of Mexico to Africa to commence the new drilling program.
The rig’s current contract in the Gulf of Mexico includes a day rate of $530,000 and began in October 2025.
Transocean Expands Its Offshore Contract Portfolio
Moreover, the award strengthens Transocean’s future work portfolio. As of August 5, 2026, the company maintained approximately $6.7 billion in backlog.
The new contract, valued at approximately $80 million, provides greater visibility into the Deepwater Conqueror’s future utilization during 2027 and extends its operational program beyond the Gulf of Mexico.
Thus, Equatorial Guinea will be incorporated into the rig’s schedule with a campaign focused on two wells and designed to leverage the unit’s ultra-deepwater drilling capabilities.
Source and photo: Transocean
