Transocean to sell GSF Arctic II, GSF Arctic IV

Offshore staff

HOUSTON -- Transocean subsidiaries have entered into agreements to sell the semisubmersible rigs GSF Arctic II and GSF Arctic IV to Northern Offshore for $750 million.

The sale of theGSF Arctic IV is expected to close late in 3Q 2008, and the sale of the GSF Arctic II is expected to close in 4Q 2008 following completion of existing contract commitments, the company says.

07/28/2008