Transocean

Transocean Ltd.
Company typePublic
NYSERIG
ISINCH0048265513
IndustryOilfield services, offshore drilling & equipment
PredecessorSonat
Founded1973 (1973)
HeadquartersVernier, Switzerland
Key people
Jeremy D. Thigpen, President & CEO
Merrill A. Miller, Jr., Chairman
Mark L. Mey, CFO
Keelan Adamson, COO
ProductsLease and operation of semi-submersible and jack-up drilling rigs and drillships
RevenueIncrease US$3.088 billion (2019)
Increase US$1 billion (2018)
IncreaseUS$721 million (2019)
IncreaseUS$1.257 billion (2019)
Total assetsDecrease US$24.105 billion (2019)
Total equityDecrease US$11.867 billion (2019)
Number of employees
6,600 (2019)
Websitewww.deepwater.com
Footnotes / references
[1]
Greenway Plaza, the location of Transocean's Houston offices

Transocean Ltd. is an American drilling company.[2] It is the world's largest offshore drilling contractor based on revenue and is based in Vernier, Switzerland. The company has offices in 20 countries, including Canada, the United States, Norway, United Kingdom, India, Brazil, Singapore, Indonesia, and Malaysia.[3]

In 2010, Transocean was found partially responsible (30% of total liability) for the Deepwater Horizon oil spill resulting from the explosion of one of its oil rigs in the Gulf of Mexico.[4] Like other companies involved in the petroleum industry, Transocean has experienced a number of other notable industrial accidents including oil spills and worker injury .

The primary business of Transocean is contracts with other large companies in the oil and gas industry. In 2019, Royal Dutch Shell accounted for 26% of the company's revenues, while Equinor accounted for 21% of the company's revenues, and Chevron accounted for 17% of the company's revenues.[1]

  1. ^ a b "Transocean Ltd. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. ^ Albring, Susan M.; Elder, Randal J.; Franklin, Mitchell A. (2019). "Transocean and the History of Tax Inversions". Issues in Accounting Education. 34: 1–12. doi:10.2308/iace-52321. S2CID 158868048.
  3. ^ "The world's biggest offshore drilling companies". 29 June 2019.
  4. ^ United States Fifth Circuit Court of Appeals (16 December 2014). "Phase One Trial: Findings of Fact and Conclusions of Law on Gross Negligence and Willful Misconduct" (PDF). EPA. Retrieved 17 January 2022.

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