Transocean relinquishes interests in drillships under construction

Upon relinquishment of the drillships, Transocean’s indirect, wholly-owned subsidiaries will not make further payments to SHI under the construction contracts. The total estimated future costs associated with the delivery and placing the drillships into service would have been approximately US$1.1 billion, which includes future payments to SHI under the construction contracts and costs related to spares, materials and supplies, and to the commissioning and mobilisation of the rigs. The construction contracts are not guaranteed by Transocean Ltd. or any of its affiliates.

Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/25092019/transocean-relinquishes-interests-in-drillships-under-construction/