ZUG, SWITZERLAND, Apr 22, 2010 (MARKETWIRE via COMTEX) --Transocean Ltd. (NYSE: RIG) (SIX: RIGN) provided an update today
regarding a fire and explosion onboard its semisubmersible drilling
rig Deepwater Horizon and reports that the rig sank late in the
morning, today. The combined response team was not able to stem the
flow of hydrocarbons prior to the rig sinking, and we are working
closely with BP Exploration & Production, Inc. and the U.S. Coast
Guard to determine the impact from the sinking of the rig and the
plans going forward. The U.S. Coast Guard has plans in place to
mitigate any environmental impact from this situation.
The incident occurred April 20, 2010 at approximately 10:00 p.m.
Central Time in the United States Gulf of Mexico. The rig was located
approximately 41 miles offshore Louisiana on Mississippi Canyon block
252.
The cause of the fire and explosion is unknown at this time. An
investigation into the cause of the incident and assessment of the
damage will be ongoing in the days or weeks to come.
Statements regarding any future aspect of the incident on the
Deepwater Horizon, the effects, results, investigation, damage
assessment relating thereto mitigation of environmental impact, as
well as any other statements that are not historical facts, are
forward-looking statements that involve certain risks, uncertainties
and assumptions. These include but are not limited to results of
searches, investigations and assessments, actions by the Coast Guard
and other governmental agencies, actions by customers and other third
parties and other factors detailed in Transocean's most recent Form
10-K and other filings with the Securities and Exchange Commission
(SEC), which are available free of charge on the SEC's website at
www.sec.gov. Should one or more of these risks or uncertainties
materialize, or should underlying assumptions prove incorrect, actual
results may vary materially from those indicated.
Transocean is the world's largest offshore drilling contractor and
the leading provider of drilling management services worldwide. With
a fleet of 139 mobile offshore drilling units plus three
ultra-deepwater units under construction, the company's fleet is
considered one of the most modern and versatile in the world due to
its emphasis on technically demanding segments of the offshore
drilling business. Its worldwide fleet is more than twice the size of
the next-largest competitor. The company owns or operates a contract
drilling fleet of 45 High-Specification Floaters (Ultra-Deepwater,
Deepwater and Harsh-Environment semisubmersibles and drillships), 26
Midwater Floaters, 10 High-Specification Jackups, 55 Standard Jackups
and other assets utilized in the support of offshore drilling
activities worldwide.
For more information about Transocean, please visit our website at
www.deepwater.com.
SOURCE: Transocean Ltd.
