Equinor Extends Helicopter Deal and Secures $1 Billion Drilling Rig Agreement

Corporate Action

โดย Zacks Investment Research·Read original

Summary · why it matters

Equinor has extended its helicopter services agreement with CHC Helikopter Service through 2030, exercising two contract options worth NOK 1.7 billion to secure transport and search-and-rescue support for offshore operations in Central Norway. The company also signed a letter of intent with Transocean worth approximately $1 billion to secure three Cat D drilling rigs for a combined seven rig-years, with day rates below $400,000. The rig agreement covers the Transocean Enabler for three years, and the Transocean Encourage and Transocean Endurance for two years each, supporting new subsea developments and enhanced recovery wells. These moves align with Equinor's target of producing 1.3 million barrels of oil equivalent per day by 2035, with roughly 70% of production expected from new wells, and plans to deliver more than 125 wells annually, 75 subsea projects, and 200 well-plugging operations through 2035.