RIG Transocean Ltd

   By Stephen Nakrosis 
 

Transocean Ltd. (RIG) said Monday a pair of its subsidiaries were relinquishing their respective interests in two drillships currently being built.

Transocean said the interests in the Ocean Rig Santorini and the Ocean Rig Crete would be transferred to Samsung Heavy Industries Co. Ltd. (010140.SE).

Transocean said futures costs associated with the drillships would have been about $1.1 billion, including future payments, materials and supplies and commissioning and mobilizing the rigs.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

September 23, 2019 17:04 ET (21:04 GMT)

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