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Transocean Ltd. (Nyse - RIG) is the world's largest offshore drilling contractor. The company rents floating mobile drill rigs, along with the equipment and personnel for operations, to oil and gas companies at an average daily rate of US$142,000 (2006). Transocean's day rates extend as high as US$650,000 for its deepwater drillships, which house dual activity derricks and can drill in ultra-deep ocean depths of 10000 ft (3048 m). Recently, Transocean has been implicated in the Deepwater Horizon oil spill resulting from the explosion of one of its oil rigs in the Gulf of Mexico.
Transocean employs over 25,000 people worldwide, and has a fleet of 139 offshore drilling units and three ultra-deepwater units under construction as of April 2010. The company is based in Vernier, Switzerland, near Geneva, and it has offices in 20 countries, including major offices in Switzerland, United States, Norway, Scotland, Brazil, Indonesia and Malaysia. Transocean positions itself as a powerful company doing the impossible based on its motto, “We’re never out of our depth”. The firm’s website is “deepwater.com”, emphasizing its deepwater expertise, and that it owns nearly half of the 50 or so deepwater platforms in the world.
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