Transocean Ltd., known as RIG on the New York Stock Exchange, is the world's largest fleet-provider of offshore contract drilling services for oil and gas wells. The corporation, which specializes in deepwater and harsh-environment drilling, prides itself on the technologically advanced and versatile fleet of mobile offshore drilling units that it owns and operates.
Headquartered in Steinhausen, Switzerland, Transocean maintains a presence in many significant offshore drilling regions, including North and South America, the Middle East, Africa, Asia Pacific, and Europe.
Transocean has a history dating back to the 1930s, when it was initially part of the Birmingham-based Southern Natural Gas Company. It became independent in 1954 under the name The Offshore Company. Over the years, RIG has made many acquisitions to expand its global presence and fleet capabilities, the most significant of which was its acquisition of its main competitor, Global Santa Fe Corp, in 2007, making it a leader worldwide in offshore drilling.
Transocean became infamous following the Deepwater Horizon incident in 2010, considered one of the most disastrous oil spills in history. The corporate-owned and BP-leased offshore oil drilling rig exploded and sank in the Gulf of Mexico, leading to major fires, human casualties, and a catastrophic oil spill. Transocean settled resulting liabilities, criminal and civil penalties in the following years.
Today, Transocean continues its focus on providing customers with the most cost-effective, technically innovative, and reliable offshore drilling services. In its continual quest for operational excellence, Transocean maintains the industry's highest standards for safety, operational integrity, and environmental responsibility.
Despite the controversial history and volatile nature of the oil and gas industry, Transocean remains committed to developing better, cleaner, and safer ways to help meet the world's ever-growing energy demands. The company has also been making efforts to meet the shifting landscape of the energy sector, with a focus on adapting to the emergence of renewable energy.
Transocean's mission is underpinned in its shared core values: safety, operational integrity, each other, customers and shareholders, and environmental stewardship. Concordantly, its strategic priorities encompass safety, people, performance, and integrity. The highly complex offshore drilling sector remains challenging, but as one of its most significant players, Transocean is thriving with its dedicated workforce, impressive fleet, and commitment to sustainability.