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


Kruszewski Joins Braemar Engineering

Braemar Engineering, the specialist maritime engineering consultancy, today announced the appointment of Chis Kruszewski to the role of Senior Electrical Engineer in its Offshore,

RigNet Partners Inmarsat to Offer Fleet Xpress

RigNet, Inc., a global provider of remote managed offshore communications solutions, telecoms systems integration services and collaborative applications to the oil and gas industry,

Italy's Eni Arrives Arctic as Shell Departs

As Shell retreats from the Arctic, the Italian oil giant Eni is making final preparations for its own oil exploration venture in the Norwegian Arctic, reports the Guardian.

Cruise Ship Trends

Radio Holland Revamps Cruise Ship Bridge

Holland America Line’s cruise ship MS Noordam recently underwent a 10-day dry-dock period, during which it was fit with a customized bridge from Radio Holland. The

Saga Cruises Orders New Ships

Saga Cruises has placed an order for a new cruise ship to be built by Meyer Werft in Germany with the delivery date of Summer 2019.    The deal comes with an

US Coast Guard Medevacs Cruise Ship Passenger

A 68-year-old man who reportedly suffered a seizure was medevaced from a cruise ship 180 miles off of Southwest Pass, La., Sunday, the U.S. Coast Guard said.   Watchstanders

Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Ship Electronics Ship Repair Shipbuilding / Vessel Construction Winch
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: 0.2846 sec (4 req/sec)