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 February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Brent up to $61, First Monthly Gain Since July

Brent premium over U.S. crude widens to $12; China's implied oil demand set to grow 3 percent this year. Crude oil futures rebounded on Friday and Brent headed

Dryships in the Red

DryShips Inc. and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, today announced its unaudited financial and

Ulstein Verft Delivers 'Blue Queen’

On 24 February 2015, ‘Blue Queen’ a platform supply vessel of the PX121 design, was delivered to Blue Ship Invest from Ulstein Verft. This vessel is the first

Cruise Ship Trends

Holland America Line Wins Cruise Critic Cruisers’ Choice Awards

Holland America Line won top honors in four categories in the 2015 Cruise Critic Cruisers’ Choice Awards. The premium cruise line took first place in Best Dining

Launch of Mississippi River Cruise Service

Governor Bobby Jindal and Viking Cruises Chairman Torstein Hagen announced the selection of New Orleans as the homeport for Viking River Cruises’ first North American river cruise itineraries.

Gladding-Hearn Bags Hy-Line Cruises Catamaran Order

Hy-Line Cruises, a division of Hyannis Harbor Tours, Inc., Hyannis, Mass., has ordered a new 493-passenger, high-speed catamaran from Gladding-Hearn Shipbuilding, the Duclos Corporation.

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1195 sec (8 req/sec)