The world's largest drilling company, Transocean, reduced its deficit considerably in the second quarter of the year, with a high utilization rate contributing to the progress.
In the second quarter, Transocean booked a net deficit of USD 103m against a deficit of USD 497m in the second quarter of 2020, while revenue came to USD 656m, a drop from the USD 930m generated in the same period last year, according to the drilling company's quarterly report released Tuesday.
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