Transocean agrees deal to defer $460m payments on new drillships

Transocean agrees deal to defer $460m payments on new drillships

Transocean has hailed a “monumental achievement” in striking a deal with shipyard owners to defer $460m payments on two new-build drillships.

The rig owner has made an agreement with Semborp Marine subsidiary, Jurong Shipyard, on delayed delivery and payments of the Deepwater Atlas and Deepwater Titan drillships.

Transocean signed a deal for both vessels back in 2014 for $540million each but delivery dates have been delayed.