September 24, 2019
Transocean Ltd. announced today that two of its indirect, wholly-owned subsidiaries will relinquish their respective interests in two drillships under construction – the Ocean Rig Santorini and the Ocean Rig Crete (the “Drillshipsâ€) – to Samsung Heavy Industries Co., Ltd. (“SHIâ€).Â
Upon relinquishment of the Drillships, Transocean’s indirect, wholly-owned subsidiaries will not make further payments to SHI under the construction contracts. The total
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