Transocean Appoints Advisor for GSF Arctic II and GSF Arctic IV Divestitures
HOUSTON, Feb. 15, 2008 (PRIME NEWSWIRE) -- Transocean Inc. (NYSE:RIG) today announced that a subsidiary is proceeding with the divestitures of its GSF Arctic II and GSF Arctic IV semisubmersible rigs and has secured a third-party advisor. The divestitures are in furtherance of the company's previously announced undertakings to the Office of Fair Trading in the United Kingdom (OFT) made in connection with the company's merger with GlobalSantaFe Corporation.
Effective immediately, the company has engaged Simmons & Company International to manage the marketing and sale of the two rigs. Interested parties should contact Matt Pilon or Todd Parsapour at Simmons & Company International at +1 (713) 236-9999.
Transocean Inc. is the world's largest offshore drilling contractor and the leading provider of drilling management services worldwide. With a fleet of 140 mobile offshore drilling units plus eight ultra-deepwater units under construction, the company's fleet 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 owns or operates a contract drilling fleet of 39 High-Specification Floaters, 29 Midwater Floaters, 68 Jackups and four other assets utilized in the support of offshore drilling activities worldwide. With a current equity market capitalization of approximately $41 billion, Transocean Inc.'s ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."
The Transocean Inc. logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=2252
CONTACT: Transocean Inc.
Gregory S. Panagos
713 232 7551
Guy A. Cantwell
713 232 7647