Transocean, which is formally headquartered in Zug, Switzerland, said that it aims to form the new company in the second half of this year and that at a later date Caledonia will be split off from Transocean.
Transocean did not say how the spin-off would be achieved, saying that “various options for the separation of Caledonia are under consideration”.
Caledonia will include the rigs Sedco 704, Sedco 711, Sedco 712, Sedco 714, Transocean John Shaw, Transocean Prospect, GSF Arctic III and JW McLean, Transocean said, adding that the new company “is expected to have a focused approach to assets and operations in the UK North Sea”.
The
