Transocean Drops Interests in 2 Drillships
Transocean Ltd revealed Monday that two of its indirect, wholly-owned subsidiaries will relinquish their respective interests in two drillships under construction to Samsung Heavy Industries Co Ltd (SHI).
Upon relinquishment of the drillships -named the Ocean Rig Santorini and the Ocean Rig Crete - Transocean’s indirect, wholly-owned subsidiaries will not make further payments to SHI under the construction contracts, Transocean noted.
The total estimated future costs associated with the delivery and placing of the drillships into service would have been approximately $1.1 billion, according to Transocean.
Transocean describes itself as a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, according to its website.
Transocean owns, or has partial ownership interests in, and operates a fleet of 45 mobile offshore drilling units, the company’s website highlights.
Transocean was crowned the most desirable oil and gas drilling contractor to work for in Rigzone’s 2019 Ideal Employer Survey, which included more than 11,000 respondents from over 100 countries. This was the third consecutive year the offshore drilling company has achieved the title, as it won the same accolade back in 2018 and 2017.
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