Offshore staff
STEINHAUSEN, Switzerland – Transocean Ltd. has reported 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.
Upon relinquishment of the drillships, its indirect, wholly-owned subsidiaries will not make further payments to SHI under the construction contracts, the company said.
The total estimated future costs associated with the delivery and placing the drillships into service would have been about $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.
According to the drilling contractor, the construction contracts are not guaranteed by Transocean Ltd. or any of its affiliates.
09/23/2019
