TWO of the world’s leading drilling rig owners/operators, Transocean and Valaris, which last week agreed to merge, have announced new and extended contracts in Australian waters.
Woodside Energy has exercised a three-well option for the 2015-built Transocean Endurance at a day rate of US$419,000, according to a Transocean advisory.
The harsh environment semi-submersible rig is already working for Woodside on the North West Shelf , and its initial US$390,000-per-day deal was set to expire in August this year. With this option, the rig will continue working from August through October 2026 under the improved rate.
The 2015-built Transocean Equinox, also a harsh environment semi-submersible, is employed by ConocoPhillips in the Otway Basin off Victoria and the operators has exercised a one-well option at a day rate of US$540,000, which will keep the rig working in Australia until December 2026.
Meanwhile, Esso Australia [ExxonMobil] has exercised a priced option for the 2006-built jack-up Valaris 107, which will commence directly after the existing program in the offshore Gippsland Basin. The rig is now expected to be under contract until September this year.
Valaris reports that the jackup has also won a three-well contract with GB Energy off the coast of Australia. The contract is expected to commence in October 2026 and is estimated to last 150 days. The estimated total contract value is approximately US $27 million.
The Golden Beach Energy Storage Project is a strategically located gas storage project in Victoria, adjacent to the Longford Gas Hub. The Project will initially produce a limited amount of natural gas from the Golden Beach field in Bass Strait, before transitioning to an underground offshore gas storage facility.
As reported in DCN last week, Transocean signed a definitive agreement to acquire Valaris in an all-stock transaction valued at about US$5.8 billion, under which Transocean shareholders will own roughly 53% of the combined group, with Valaris investors owning the remaining 47%.
Separately, NOPSEMA (the National Offshore Petroleum Safety and Environmental Management Authority) has been updating industry and providing key information to titleholders and other stakeholders around the remade Offshore Petroleum and Greenhouse Gas Storage (Resource Management and Administration) Regulations 2025 (RMA Regulations) since late last year.
The RMA Regulations are part of the legal framework for offshore petroleum and greenhouse gas storage activity under the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (OPGGS Act).
They cover resource management and administration, well operations management plans and well activities, data management and reporting for petroleum and greenhouse gas storage and other regulatory and administrative matters.
NOPSEMA has developed a new Annual Well Integrity Report template and revised the guidance note for WOMP Content and Level of Detail and is seeking feedback on these documents until Friday 13 March 2026.
The stakeholder feedback process provides an opportunity for titleholders and other stakeholders to have their say on relevant resources prior to publication on 31 March 2026 when the remade RMA Regulations come into effect, the Authority says.