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Last $306.78 MXN
Change Today 0.00 / 0.00%
Volume 0.0
RIGN On Other Exchanges
Symbol
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SIX Swiss Ex
SIX Swiss Ex
As of 4:10 PM 05/21/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

10 Chemin de Blandonnet

Vernier, 1214

Switzerland

Phone: 41 22 930 90 00

Fax:

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells. As of February 17, 2015, the company owned or had partial ownership interests in and operated 71 mobile offshore drilling units. As of February 17, 2015, its fleet consisted of 44 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh Environment semisubmersibles and drillships), 17 Midwater Floaters, and 10 High-Specification Jackups. As of February 17, 2015, the company also had seven Ultra-Deepwater drillships and five High-Specification Jackups under construction or under contract to be constructed. The company’s primary business is to contract its drilling rigs, related equipment and work crews predominantly on a dayrate basis to drill oil and gas wells. The company specializes in technically demanding regions of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services. Contract Drilling Services The company’s contracts to provide offshore drilling services are individually negotiated and vary in their terms and provisions. The company obtains most of its drilling contracts through competitive bidding against other contractors and direct negotiations with operators. Markets The company’s operations are geographically dispersed in oil and gas exploration and development areas worldwide. As of February 17, 2015, its drilling fleet was located in the U.S. Gulf of Mexico (12 units); the U.K. North Sea (11 units); Far East (9 units); Norway (6 units); African countries other than Nigeria and Angola (6 units); Brazil (5 units); Angola (4 units); India (4 units); Australia (4 units); Nigeria (3 units); Mediterranean (3 units); Canada (2 units); Denmark (1 unit); and Europe (1 unit). Customers The company engages in offshore drilling services for most of the international oil companies or their affiliates, as well as for government-controlled oil companies and independent oil companies. As of December 31, 2014, the company’s significant customers were Chevron Corporation and BP plc. As of February 17, 2015, the customers associated with its drilling contracts were Royal Dutch Shell plc and Chevron Corporation. Joint Venture The company holds a 65 percent interest in Angola Deepwater Drilling Company Limited (ADDCL), a consolidated Cayman Islands joint venture company formed to own Discoverer Luanda, which operates in Angola. The company holds a 70 percent interest in Transocean Drilling Services Offshore Inc. (TDSOI), a consolidated British Virgin Islands joint venture company formed to own Transocean Honor, which operates in Angola. The company holds a 24 percent direct interest and a 36 percent indirect interest in Indigo Drilling Limited, a consolidated Nigerian joint venture company formed to engage in drilling operations offshore Nigeria. Additionally, the company holds interests in certain joint venture companies in Angola, Indonesia, Malaysia and Nigeria that have been formed to perform certain management services and other onshore support services for its operations. History Transocean Ltd., a Swiss corporation, was founded in 1953.

 

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