Transocean Granted Purchase Option Rights for Jackup Rigs

Thursday, January 05, 2006
Transocean Inc. has entered into agreements with PetroJack ASA of Norway (PetroJack) providing Transocean with the exclusive marketing rights in respect of three PetroJack jackup rigs under construction, PetroJack I, II and III, as well as options to purchase each unit. The three Baker Marine Pacific Class 375 deep drilling jackup rigs are currently under construction in Singapore with expected delivery dates in 2007 and 2008. The exclusive marketing rights and options granted to Transocean by PetroJack will terminate on March 15, 2006, but can be extended by 30 days. Transocean anticipates exercising its purchase right on each unit once it has secured a contract of sufficient duration and value, although Transocean is not obligated to purchase any of the jackup rigs. The average purchase price for the three units will be approximately $180 million, subject to certain adjustments. Should Transocean exercise its right to purchase either of the jackup rigs PetroJack II and III, the sale is subject to PetroJack ASA shareholder approval.
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Harkand: Expanding the Fleet, Growing a Global Business

International inspection, repair and maintenance (IRM) company Harkand aims to be a $1 billion company. MR’s Tom Mulligan recently met with John Reed, the company’s CEO,

HHI Orders Regasification Systems from Wärtsilä

South Korean shipyard Hyundai Heavy Industries (HHI) has ordered two seawater/propane based regasification modules from Wärtsilä. The systems are to be installed

Hitachi Gas Supply System Order for MHI

Mitsubishi Heavy Industries, Ltd. (MHI) has received an order from Hitachi Zosen Corporation for a high-pressure gas supply system enabling use of natural gas as fuel in marine engines.

Cruise Ship Trends

Titanic's Last Luncheon Menu Heading to Auction

More than a century after first-class passengers aboard the ill-fated Titanic ate grilled mutton chops and custard pudding in an elaborate dining room, the ship's

Carnival Ramping Up in New Orleans

Carnival on track for record year from Port of New Orleans in 2015; expects to embark 3 millionth passenger post-Katrina next year   New Orleans’ number one cruise

New London Cruise Terminal Gets Green Signal

London Mayor Boris Johnson gave final approval to build a new cruise terminal on the Thames River at Greenwich.   The terminal, to be located at Enderby Wharf,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Port Authority Salvage Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1265 sec (8 req/sec)