Presentation

Transocean is the world’s largest operator of floating rigs with a fleet consisting of both drillships and semi-submersibles. The company has roots dating back to the 1920s, but its form as we know it today is a result of a series of mergers and acquisitions in the late 1990s and 2000s, including the merger with GlobalSantaFe in 2007, which was the world’s second largest driller at the time. Transocean is incorporated in Switzerland and listed on the New York Stock Exchange.

Since 2014, Transocean has evolved from a large, diversified driller to a lean company focused on high-spec ultra-deepwater and harsh environment floaters. The company has also been active in acquiring high-spec floaters, starting with the acquisition of Songa Offshore in 2018, adding four modern harsh environment semi-submersibles in addition to three legacy NCS midwater rigs which have now been retired. In 2018, Transocean also closed the acquisition of Ocean Rig, which increased the company’s ultra-deepwater exposure through the addition of 13 drillships, in addition to two harsh environment semi-submersibles. Transocean has subsequently retired one of the semi-submersibles and one of the drillships. As of July 15, the company has a backlog of USD ~8.9bn, which is the largest in the industry.