Transocean Dodges $1.1 billion in Future Costs by Relinquishing Interests in Two Drillships

September 26, 2019 Oil & Gas Blog No Comments
Blog

Transocean announced that two of its indirect, wholly-owned subsidiaries will relinquish their respective interests in two drillships under construction – the Ocean Rig Santorini and the Ocean Rig Crete – to Samsung Heavy Industries Co., Ltd. (“SHI”). Upon relinquishment of the drillships, Transocean’s indirect, wholly-owned subsidiaries will not make further payments to SHI under the construction contracts.

Hot Tip

Once registered on oilandgaspeople.com as a candidate be sure to build a detailed profile. Other job sites save you time by scraping your CV into one database field but our structured database makes it much easier for recruiters to search and find you. Better for candidates.. Better for recruiters..
Sign up or update your existing profile now

The total estimated future costs associated with the delivery and placing the drillships into service would have been approximately $1.1 billion, which includes future payments to SHI under the construction contracts and costs related to spares, materials and supplies, and to the commissioning and mobilization of the rigs. The construction contracts are not guaranteed by Transocean Ltd. or any of its affiliates.

Source: www.worldoil.com

hkrichiedistribution

Leave a Reply

Your email address will not be published. Required fields are marked *

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.