Transocean Semi-Submersible is First to Use Battery Power for Drilling Operations

Deepwater drilling contractor Transocean says it has deployed that world’s first hybrid battery system on floating drilling rig to supplement power needs during drilling operations. They hybrid energy storage system was deployed on its Transocean Spitsbergen semi-submersible at the Snorre Field in Norway. Transocean says the patented technology targets a 14 percent … [Read more...]

Transocean Relinquishes Ownership in Drillship Pair Under Construction

Offshore drilling contractor Transocean has decided to walk away from two drillships under construction at South Korea’s Samsung Heavy Industry. In a statement on Tuesday, the Switzerland-based company said it was relinquishing their respective interests in two drillships under construction – the Ocean Rig Santorini and the Ocean Rig Crete to SHI. The decision means that … [Read more...]

Newbuild Rig Transocean Norge Lands Six-Well Contract from Equinor with Options

Norwegian energy giant Equinor announced today it has awarded Transocean a six-well contract on the Norwegian continental shelf (NCS) for the newbuild harsh environment drilling rig Transocean Norge. Drilling start-up is scheduled for the summer of 2019 upon delivery of the rig.  The contract also includes options for drilling four additional wells and "is intended … [Read more...]

Transocean May Reactivate 3 Rigs A Year As Recovery Takes Hold

by David Wethe (Bloomberg) -- Transocean, the world’s biggest offshore oil driller, may reactivate two to three mothballed rigs a year as the industry embarks on a full-fledged recovery for deepwater exploration. In announcing a $2.7 billion deal for a rival operator, Transocean Ltd. cited a forecast by energy consultant Wood Mackenzie Ltd. that day-rates in … [Read more...]

Transocean to Acquire Ocean Rig in $2.9 Billion Deal

By Will Wade and Simon Casey (Bloomberg) -- Transocean Ltd., the world’s largest offshore drilling company, agreed to buy a smaller rival in a $2.9 billion deal, with rates for deepwater rigs forecast to double in two years. The cash-and-stock acquisition of Ocean Rig UDW Inc. will give Transocean a fleet of nine ultra-deepwater drillships and two harsh environment … [Read more...]