Transocean

Transocean Ltd. () is one of the world's largest offshore drilling contractors. The company rents floating mobile drill rigs, along with the equipment and personnel for operations, to oil and gas companies at an average daily rate of US$282,700 (2010). Transocean's day rates extend as high as US$650,000 for its deep-water drillships, which house dual activity derricks and can drill in ultra-deep ocean depths of .Transocean Recently, Transocean has been implicated in the Deepwater Horizon oil spill resulting from the explosion of one of its oil rigs in the Gulf of Mexico.

Transocean employs more than 25,000 people worldwide and has a fleet of 139 offshore drilling units and three ultra-deepwater units under construction, as of April 2010. The company is based in Vernier, Switzerland, near Geneva, and has offices in 20 countries, including Switzerland, the United States, Norway, Scotland, Brazil, Indonesia and Malaysia. The firm owns nearly half of the 50 or so deepwater platforms in the world.

History

Transocean traces its roots back to 1953, when the Birmingham, Alabama-based Southern Natural Gas Company created The Offshore Company after acquiring the joint drilling operation DeLong-McDermott from DeLong Engineering and J. Ray McDermott. In 1954 the company launched the first Jackup rig in the Gulf of Mexico. In 1967 the company went public. In 1978 SNG turned it into a wholly owned...
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