Transocean Rigs

Definition - What does Transocean Rigs mean?

Transocean Rigs are offshore drilling rigs and other drilling equipment offered by Transocean Ltd., for rent. Transocean is the second largest contractor in the world that leases floating maritime vessels, i.e., Mobile offshore drilling units (MODUs) which include vessels such as drillships, semi-submersibles and jackups. Transocean Rigs are used worldwide, and a convoy of 135 drilling units is installed all over the world. Transocean rigs can be found in places such as the United Kingdom, Middle East, Gulf of Mexico (U.S.) and some parts of Asia as well as Africa.

Petropedia explains Transocean Rigs

Transocean Ltd. is a worldwide known contractor of offshore drilling rigs. Transocean Rigs majorly consist of all the MODUs, i.e., mobile offshore drilling units that are floating vessels. These water vessels are portable and rented by Transocean Ltd. The offshore drilling rigs offered by Transocean are high quality jackups, regular jackups, high quality floaters and midwater floaters to name a few. The mobile drillships and semi-submersibles also form a part of the Transocean Rigs. Transocean is Switzerland based organization with offices throughout the world. It owns virtually half of all the functional deepwater rigs installed in the world.

This definition was written in the context of Drilling Rig Contractor

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