EnergyWatch

Transocean benefits from canceled contract for drilling vessel

Transocean received a large one-off income in October when an Indian offshore company canceled a long-term contract for a drilling vessel. The figure offsets a decline in revenue from drilling activities in the fourth quarter.

Photo: Transocean

Rig company Transocean's drilling business noted a setback in revenue in the fourth quarter 2016.

But a one-off income from a canceled contract for a drilling vessel made the company's combined revenue grow in the last three months of the year.

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