Transocean completes Ocean Rig acquisition

Transocean completes Ocean Rig acquisition

Transocean has completed its $2.7bn acquisition of Ocean Rig.

First announced in September, the deal grows Transocean’s fleet to 54 drilling units with the addition of nine drillships, two semi-submersibles and an additional two drillship currently under construction.

Ocean Rig is now a subsidiary of Transocean, and the enlarged entity will remain listed on NYSE under the RIG symbol.

“Through this combination, Transocean further enhances our industry-leading fleet of high specification floaters, thus improving our competitive position. We are excited to begin actively marketing these assets into the growing list of opportunities we continue to see emerging across our global customer base,” said Jeremy Thigpen, president and CEO of Transocean, commenting on the acquisition last week.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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