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Transocean Ltd. Sets 40% Reduction Target for Greenhouse Gas Emissions Intensity by 2030
This critical initiative is consistent with the technical leadership that Transocean has demonstrated over the years. Indeed, the company has proactively implemented numerous innovations to improve the performance of its rigs, and enhance safety, reliability, operational execution, and efficiency. Importantly, Transocean will achieve the reduced emissions intensity target without diminishing its record of safety and operational integrity.
“Globally, almost one billion people lack access to electricity, and all of us desire reliable and affordable sources of energy that help improve our daily lives. As such, we believe that demand for hydrocarbons and, therefore, for Transocean’s assets and services, will remain strong,” said Transocean President and Chief Executive Officer,
Thigpen continued, “Currently, nearly all energy used to power Transocean’s global fleet of high-capability drilling rigs is generated through the conversion of diesel fuel to electricity. Therefore, we commit to reduce emissions across our fleet through fuel reductions and other initiatives that can be achieved by developing and implementing new processes and technologies that enable us to optimize our power management capabilities.”
Transocean is also committed to utilizing its assets and expertise in support of its customers’ lower-carbon energy projects including, potentially, carbon capture and sequestration.
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. Transocean specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and operates the highest specification floating offshore drilling fleet in the world.
Transocean owns or has partial ownership interests in and operates a fleet of 37 mobile offshore drilling units, including 27 ultra-deepwater floaters and 10 harsh environment floaters. In addition, Transocean is constructing two ultra-deepwater drillships
The statements described herein that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements could contain words such as "possible," "intend," "will," "if," "expect," or other similar expressions. Forward-looking statements are based on management’s current expectations and assumptions, and are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results could differ materially from those indicated in these forward-looking statements. 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 company’s 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 company's most recent Annual Report on Form 10-K for the year ended
This press release, or referenced documents, do not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and do not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”) or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of Transocean and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of Transocean.