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Transocean books huge impairment on rig sale

Transocean makes a USD 1.6 billion impairment after selling its jack-up fleet to Borr Drilling, which was established in March by former executives from John Fredriksen's empire. The deal for the 15 rigs is worth a total USD 1.35 billion.

Photo: GDFSuez

Rig company Transocean is booking a huge impairment following the sale of its jack-up fleet to newly-established Borr Drilling.

Transocean, with US roots but based in Switzerland, has impaired a total USD 1.6 billion due to the transaction, informs the company in a press release.

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