Transocean Inc. Announces Marketing Rights and Options for Three PetroJack ASA Jackup Rigs Terminate
HOUSTON, Mar 15, 2006 (BUSINESS WIRE) -- Transocean Inc. (NYSE:RIG) today announced that exclusive marketing rights have terminated without any action taken in respect of three PetroJack ASA jackup rigs under construction, PetroJack I, II and III. Also terminated without any action taken were options to purchase each unit.
On January 5, 2006, Transocean announced that the exclusive marketing rights for the three Baker Marine Pacific Class 375 deep drilling jackup rigs currently under construction in Singapore would terminate on March 15, 2006. The deadline for extending the marketing rights and options has also passed without any action taken.
Transocean Inc. is the world's largest offshore drilling contractor with a fleet of 89 mobile offshore drilling units. The company's mobile offshore drilling fleet, consisting of a large number of high-specification deepwater and harsh environment drilling units, is considered one of the most modern and versatile in the world due to its emphasis on technically demanding segments of the offshore drilling business. The company's fleet consists of 32 High-Specification Floaters (semisubmersibles and drillships), 23 Other Floaters, 25 Jackup Rigs and other assets utilized in the support of offshore drilling activities worldwide. With a current equity market capitalization in excess of $25 billion, Transocean Inc.'s ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."
SOURCE: Transocean Inc.
Analyst Contact: Jeffrey L. Chastain, 713-232-7551 or Media Contact: Guy A. Cantwell, 713-232-7647