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Monday, March 28, 2011

Transocean considers spinning off part of fleet, (NYSE: RIG), (RIGN)

Transocean Ltd (RIG.N) (RIGN.VX), the world's largest offshore drilling contractor, will consider spinning off an older part of its fleet in order to improve its profile, its chief executive said on Monday. That is in addition to previously announced plans to build new rigs and dispose of older ones, as the company did less than two weeks earlier with one of its older shallow-water jackup rigs. [ID:nN16182266] Chief Executive Steven Newman said demand among clients for more capable "high-specification" rigs was stronger than ever.

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