Transocean Ltd. is the world’s second-largest offshore drilling company. It has its offices in Vernier, Switzerland. In 2010, the company landed in a difficult situation due to the failure of one of its Oil rigs in the Gulf of Mexico in the Deepwater Horizon Oil spill. But after that, it was able to recover and since then it is running smoothly.
Transocean’s biggest customers, Chevron Chemical and Royal Dutch Shell, accounts for 14% and 10% of the company’s sales, respectively. The company runs a fleet of 47 portable offshore drilling units comprising of 31 ultra-deepwater floats, 13 rough floaters in the field and 3 midwater floats. Transocean is also developing four ultra-deepwater drills and one harsh environment semi-submersible.
Headquarters: Vernier, Switzerland
Annual Revenue: 7.386 Billion U.S Dollars
Employees: More than 9000
Transocean was formed as a result of the merger of the Southern Natural Gas Company (or SONAT, a name later adopted by them) with many other smaller drilling companies. Today, the Transocean represents, with its founders, the latest offspring of the most successful and innovative deepwater exploration companies in the world.
- In 1953, the Southern Natural Gas Corporation, headquartered in Birmingham, Alabama, formed. The Offshore Company after purchasing DeLong-McDermott’s joint drilling activity from DeLong Engineering and J. Ray McDermott.
- In 1954, Rig 51, the first handheld jack-up rig, was deployed in the Gulf of Mexico. In 1967, the Offshore Corporation became official.
- In 1978, SNG declared it a wholly-owned company.
- In 1982, it was renamed to Sonat Offshore Drilling Inc., indicating a shift in the title of its company. Sonat spun it down in 1993.
- 1993, In May, the Sonat, Inc. spun-off Sonat Offshore Drilling Inc. was made a new company and started trading on the New York Stock Exchange through Sonat Offshore Drilling Inc. (RIG).
- 1997 KPC unloaded 40 million shares of Santa Fe by June and Santa Fe continued to trade under the ‘ SDC ‘ mark on the New York Stock Exchange.
- In 2000, in a deal worth $17.7 billion, Transocean purchased R&B Falcon Corporation, operator of 115 drilling rigs. Transocean gained control over what was the largest offshore activity in the world at the time of the purchase.
- In 2005, the Discoverer Spirit rig from the company set a world record for the 34,189 ft (10,421 m) deepest offshore Oil and Gas well.
- In 2008, the company moved its headquarters to Switzerland, resulting in a much lower tax rate.
- 2010 – A warning of the overarching significance of security: the Macondo disaster saw the loss of 11 crew members to the Deepwater Horizon on April 20 in the U.S. Gulf of Mexico.
- 2013 – India was the site of another world record in July, with the Dhirubhai Deepwater KG1 ultra-deepwater drill holding the worldwide water-depth mark at 10,411 feet (3,174 meters) off the country’s east coast while operating for ONGC.
- 2018 – Transocean Ltd. purchased Songa Offshore SE in May. Seven floaters were introduced to the deal, four of them high-specific, rough climate.
- Transocean Ltd. acquired Ocean Rig UDW in December. The transaction included 11 floaters, including four UDW drillships of the 7th chromosome.
More than 80% of Transocean’s 28 ultra-deepwater plants are less than 10 years old. Nine of them were installed over the past five years. The ultra-deepwater fleet is one of the most versatile and flexible platforms in the world with some of the newest vessels featuring the proprietary hybrid power technology. Names of the Ultra Deep Water Dual Activity Drillships owned by the company are:
- Deepwater Asgard
- Deepwater Champions
- Deepwater Conqueror
- Deepwater Corcovado
- Deepwater Invictus
- Deepwater Mykonos
- Deepwater Nautilus
- Deepwater Orion
- Deepwater Pontus
- Harsh environment:
The company runs 14 harsh environment semi-submersibles, all with propulsion systems and with adaptive positioning systems. Their names are:
- Henry Goodrich
- Leiv Eiriksson
- Paul B. Loyd Jr.
- Polar Pioneer
- Songa Dee
- Transocean Arctic
- Transocean Barents
- Transocean Enabler
- Transocean Encourage
- Transocean Endurance
Transocean also runs three semi-submersible midwater floats for customers looking to dig in shallower depths. Most of these systems come with a BOP of 15,000 psi and hook load strengths varying from 1 million to 1.3 million pounds. Each rig is fitted with a mooring system in its class. Names of these Mid Water Semi Submersibles are:
- Sedco 711
- Sedco 714
- Transocean 712
Countries of Operation:
The organization has branches and operation in 20 countries, including:
- United States
Vision and Mission:
Transocean’s goal is to be the leading offshore drilling agency by supplying its customers with worldwide, rig-based well-building services. It achieves this goal through the combination of motivated people, quality equipment and innovative technology, with special emphasis on technologically challenging conditions.
LINKS TO JOBS AT TRANSOCEAN
- Accountant II, Americas Accounting Hub
- Financial Planning Analyst II
- Senior Manager, Tax
- Lead Subsea Project Engineer
- Safety Officer
- Asst Driller / Casing Specialist
- Senior Writer
- Administrator, Tax
- Lead, Project Planning
- Subsea Supervisor-1
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