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Transocean defers payment of USD 400m, postpones delivery of two drillships

US-based drilling rig operator Transocean has struck a deal with shipyard to postpone the delivery of two new ultra-deepwater drillships, thereby deferring payments of USD 400m.

Photo: PR/Transocean

Drillng rig operator Transocean has struck a deal with Singapore-based Jurong Shipyard to delay the delivery of two ultra-deepwater drillships. This allows Transocean to defer payments of USD 400m, according to a press release.

As was the case for many drilling rig operators, 2020 proved to be a tough year for Transocean with losses and slumps as a result of an industry-wide downturn in the oil and gas sector.

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