- Business
- Transocean Ltd. (RIGN.SW) is a leading international provider of offshore contract drilling services for oil and gas wells. The company owns and operates a fleet of 27 mobile offshore drilling units, consisting of 20 ultra-deepwater floaters including advanced drillships and semi-submersibles capable of operating in water depths exceeding 7,500 feet, and seven harsh environment floaters designed for challenging conditions such as the North Sea; it provides these rigs under multi-year contracts to major integrated oil companies, national oil companies, and independent exploration and production firms, supported by in-house expertise in well engineering, subsea operations, maintenance, and reliability. Transocean conducts operations across virtually every major offshore drilling province worldwide, including North America, South America, Norway, UK North Sea and Northern Europe, Black Sea, Mediterranean, North and Sub-Saharan Africa, Middle East and South Asia, and Australia and Southeast Asia. Founded in 1926 with roots tracing back to pioneering onshore and offshore drilling efforts, the company is headquartered in Steinhausen, Switzerland. Recent developments include the exercise of contract options totaling $89 million across Brazil, Norway, and Romania in November 2025; strategic partnerships such as a 2025 joint venture with Eneti for offshore wind turbine installation vessels, a 2024 cooperation with DEME Group's Global Sea Mineral Resources involving the contribution of the Ocean Rig Olympia drillship for deep-sea mineral exploration, and an initial 2023 alliance with Eneti for offshore wind foundation installation; and ongoing discussions reported in late 2024 for a potential merger with rival Seadrill Ltd.