TRANSOCEAN SEDCO-FOREX

 

Transocean Sedco Forex Inc., already the world's biggest offshore oil-drilling contractor, agreed to buy R&B Falcon Corp. in a $ billion stock deal that will make it the dominant deepwater driller.

In , the Offshore Company went public. Retrieved 31 July The Glomar Challenger began collecting seabed sediment cores around the world, a role that extended into Angra dos Reis, about two hours south of Rio de Janeiro.

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Jan 01,  · Schlumberger Ltd., a leading oil services company, said yesterday that the spinoff of its Sedco Forex Offshore unit and its merger with Transocean Offshore Inc. had been completed in a $

A successful production test was carried out in this Nnwa-2 well, which was plugged last November. The field was discovered with the Nnwa-1 wildcat in , while Shell has earlier made a find with its Doro-1 well in block Transocean Sedco Energy spudded Nnwa-2 last July in 1, metres of water. Drilled to a planned depth of 4, metres, the well encountered hydrocarbons in several reservoir levels.

Nnwa-2 lies kilometres south-west of Port Harcourt, 6. The partners in the two blocks have earlier signed a memorandum of understanding with the state-owned Nigerian National Petroleum Company NNPC and the national authorities. This agreement covers a feasibility study for a possible joint development of Nnwa and Doro. Being led by Statoil, this investigation is due to be completed by the end of Statoil has a What you are seeing is a selection of sample rig information from the Infield Rigs database.

If you are not working for then you must have written permission from a Director of Infield Systems Limited to access InfieldLive, without which you will be in breach of Infield Systems Limited Standard Terms and Conditions of Business and will be in breach of our copyright and database rights. Transocean Sedco Forex Inc. Officially a Cayman Islands corporation, it operates out of Houston, Texas, with more than 16, employees located around the globe.

Transocean's drilling rigs and work crews are contracted by petroleum companies at a day rate, over the course of long-term and short-term contracts.

Although the company offers inland drilling barges and shallow water drilling rigs, Transocean is especially active in the deepwater and harsh environment drilling segment, offering semisubmersible rigs as well as massive drillships that have drilled to record depths in the range of 10, feet.

Transocean is composed of a number of drilling operations that were merged, especially during the late s when the offshore drilling industry as a whole began to consolidate. The surviving corporate structure belongs to The Offshore Company, incorporated in Delaware in It was created when the pipeline company Southern Natural Gas Co.

Ray McDermott's marine construction business. A year later, Offshore established the first jackup drilling rig in the Gulf of Mexico. Oil and gas exploration then began to move farther offshore and to more remote areas of the world.

Offshore was also one of the earliest companies in the s to operate jackups in the inhospitable environment of the North Sea, which would develop into one of the world's most significant sources of oil. In Offshore went public. Ten years later it expanded its range of operations to southeast Asia, where it drilled its first deepwater well.

In , the company became a wholly owned subsidiary of SNG, which had greatly increased its emphasis on offshore drilling and exploration operations. As a result, Offshore developed one of the largest U. During the s new "floaters" were developed to accomplish deepwater drilling. Semisubmersible rigs were partially submerged below water and usually moored to the ocean floor for stability. Drill ships, able to reach depths of 3, feet and particularly useful in exploring remote areas, were also introduced as a cost-effective option during this period.

By the late s a large number of companies began to build and operate floaters, leading to a highly fragmented industry. Many service companies went bankrupt or were swallowed up by stronger rivals. During this decade-long lean period, offshore drilling rigs in operation declined precipitously, from more than 1, in the early s to around In this way the parent company hoped to transform itself from a diversified pipeline company into an exploration and production company.

The newly independent Sonat Offshore, as a result of the offering, had a clean balance sheet and money in the bank, and was well positioned to weather an ensuing decline in gas prices. Moreover, the company's emphasis on deepwater oil drilling also would prove to be a wise strategy.

It was recognized that the most desirable energy plays that remained in the world resided under great depths of ocean.

Although the technology existed to tap these deposits, only until oil prices reached a certain level would it become economical for a company like Sonat Offshore to invest in a new generation of drill ships.

The cost of such rigs was so high that only large companies were able to afford them. There were other reasons why consolidation among offshore drilling contractors became desirable in the mids.

As a result, oil began to spill into the Gulf of Mexico. Estimates of the leak were about 80, barrels per day — for 87 days. Louisiana Governor Bobby Jindal declared a state of emergency on 29 April, as the oil slick grew and headed toward the most important and most sensitive wetlands in North America, threatening to destroy wildlife and the livelihood of thousands of fishermen.

During Congressional testimony, Transocean and BP blamed each other for the disaster. The American people could not have been impressed with that display, and I certainly wasn't.

In a regulatory filing, Transocean said, "Notwithstanding the tragic loss of life in the Gulf of Mexico, we achieved an exemplary statistical safety record as measured by our total recordable incident rate and total potential severity rate.

The offshore drilling facility "Sedco ", operated by Transocean under contract from Chevron , began to leak in November while working on the "Frade" oil field. The Brazilian government sued Transocean and attempted to force the company to cease operations in Brazil, but a settlement was reached without a finding of fault or liability. The rig subsequently drifted ashore at Dalmore and became stuck fast on rocks at Continuing poor weather meant that a damage inspection by salvors has been practically impossible, as personnel require to be airlifted on to the rig, in spite of it being close to the shore.

The activists promised to continuing their protests as the rig undergoes final outfitting while it is anchored in the Port Angeles harbor in Washington State and then later in Puget Sound. From Wikipedia, the free encyclopedia. Deepwater Horizon drilling rig explosion. Switzerland portal Houston portal Companies portal Energy portal. International Directory of Company Histories. Archived from the original on 28 May Retrieved 23 May Archived from the original on 25 December Retrieved 21 May Agree to Combine" Press release.

New York Daily News. Retrieved 18 February The Wall Street Journal. Archived from the original on 10 November Retrieved 30 May The New York Times. Archived from the original on 13 April Archived from the original on 20 February Retrieved 28 May American City Business Journals. Archived from the original on 26 October