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 thatexclusive marketing rights have terminated without any action taken inrespect of three PetroJack ASA jackup rigs under construction,PetroJack I, II and III. Also terminated without any action taken wereoptions to purchase each unit.
On January 5, 2006, Transocean announced that the exclusivemarketing rights for the three Baker Marine Pacific Class 375 deepdrilling jackup rigs currently under construction in Singapore wouldterminate on March 15, 2006. The deadline for extending the marketingrights and options has also passed without any action taken.
Transocean Inc. is the world's largest offshore drillingcontractor with a fleet of 89 mobile offshore drilling units. Thecompany's mobile offshore drilling fleet, consisting of a large numberof high-specification deepwater and harsh environment drilling units,is considered one of the most modern and versatile in the world due toits emphasis on technically demanding segments of the offshoredrilling business. The company's fleet consists of 32High-Specification Floaters (semisubmersibles and drillships), 23Other Floaters, 25 Jackup Rigs and other assets utilized in thesupport of offshore drilling activities worldwide. With a currentequity market capitalization in excess of $25 billion, TransoceanInc.'s ordinary shares are traded on the New York Stock Exchange underthe symbol \"RIG.\"
SOURCE: Transocean Inc.
Analyst Contact:Jeffrey L. Chastain, 713-232-7551orMedia Contact:Guy A. Cantwell, 713-232-7647