Aker Spitsbergen
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| Publicly traded limited company | |
| Traded as | |
| Industry | Oilfield services, offshore drilling & equipment |
| Predecessor | Sonat Offshore |
| Founded | 1973 |
| Headquarters | Vernier, Switzerland |
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Key people
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Jeremy D. Thigpen, President & CEO Merrill A. Miller, Jr., Chairman Mark L. Mey, CFO John B. Stobart, COO |
| Products | Lease and operation of semi-submersible and jack-up drilling rigs and drillships |
| Revenue |  US$7.386 billion |
 US$1.380 billion (2015) |
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| Profit | US$0.791 billion (2015) |
| Total assets | US$26.329 billion (2015) |
| Total equity | US$14.808 billion (2015) |
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Number of employees
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9,100 (2015) |
| Website | www.deepwater.com |
Transocean Ltd. is one of the world's largest offshore drilling contractors and is based in Vernier, Switzerland. The company has offices in 20 countries, including Switzerland, Canada, United States, Norway, Scotland, India, Brazil, Singapore, Indonesia and Malaysia.
In 2010, Transocean was implicated in the Deepwater Horizon oil spill resulting from the explosion of one of its oil rigs in the Gulf of Mexico.
On 23 November 2015 Transocean announced that it intent to delist its shares from the SIX Swiss Exchange due to financial reasons. The delisting will be effective on March 30, 2016. After the delisting the shares will be removed from the Swiss blue-chip index Swiss Market Index.
The company owns 61 rigs including 28 ultra-deepwater floaters, 5 deepwater floaters, 7 Harsh-Environment Floaters, 11 Midwater Floaters, and 10 High-Specification jackup rigs. The company provides quarterly updates on the status of its fleet on its website.
In 2015, Chevron accounted for 14% of the company's revenues and Royal Dutch Shell accounted for 10% of the company's revenues.
Transocean was formed as a result of the merger of Southern Natural Gas Company, later Sonat, with many smaller drilling companies.
In 1953, the Birmingham, Alabama-based Southern Natural Gas Company created The Offshore Company after acquiring the joint drilling operation DeLong-McDermott from DeLong Engineering and J. Ray McDermott. In 1954, the company launched Rig 51, the first mobile jackup rig, in the Gulf of Mexico. In 1967, the Offshore Company went public. In 1978, SNG turned it into a wholly owned subsidiary. In 1982, it was changed to Sonat Offshore Drilling Inc., reflecting a change in its parent's name. In 1993, Sonat spun it off.
In 1996, the company acquired Norwegian group Transocean ASA for US$1.5 billion. Transocean started in the 1970s as a whaling company and expanded through a series of mergers. The new company was called Transocean Offshore. The new company began building massive drilling operations with drills capable of going to 10,000 feet (as opposed to 3,000 feet at the time) and operating two drill operations on the same ship. Its first ship, Discoverer Enterprise, cost nearly US$430 million and was 834 ft (254 m). The Enterprise class drillship is the largest of the drilling ships.
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Wikipedia