Transocean Agrees to Investment in Global Sea Minerals Resources, Contributes Stacked Drillship
Summary
STEINHAUSEN, Switzerland, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE: RIG) announced today that one of its wholly owned subsidiaries has agreed to make an investment in Global Sea Mineral Resources NV (GSR) in exchange for a non-controlling interest in the company. GSR is the deep-sea mineral exploratory division of DEME Group NV and is engaged in the development and exploration of deep-sea polymetallic nodules that contain metals critical to the growing renewable energy market, and is a leading developer of nodule collection technology.Transocean has agreed to contribute the stacked Ocean Rig Olympia for GSRs ongoing exploration work, as well as make a nominal cash investment. Forward-looking statements are based on managements current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Factors that could cause actual results to differ materially include, but are not limited to, estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out-of-service time, sales of drilling units, timing of the companys newbuild deliveries, operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the fluctuation of current and future prices of oil and gas, the global and regional supply and demand for oil and gas, the intention to scrap certain drilling rigs, the success of our business following prior acquisitions, the effects of the spread of and mitigation efforts by governments, businesses and individuals related to contagious illnesses, such as COVID-19, and other factors, including those and other risks discussed in the companys most recent Annual Report on Form 10-K for the year ended December 31, 2021, and in the companys other filings with the SEC, which are available free of charge on the SECs website at: www.sec.gov. All subsequent written and oral forward-looking statements attributable to the company or to persons acting on our behalf are expressly qualified in their entirety by reference to these risks and uncertainties.