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In May 2004, the company sold its worldwide land drilling assets to Precision Drilling for $316.5 million. [5] [6] In August 2004, one of the company's rigs sank in the Mediterranean Sea about 25 miles offshore Egypt after a fire broke out on the rig. [7] In June 2006, the company contracted with Saudi Aramco for 4 of its jackup rigs. [8]
The Diamond Offshore story is somewhat less complex. A subsidiary of Loews , Houston-based Diamond operates 44 offshore rigs, including 32 semi-submersibles, seven jackups, and five dynamically ...
Offshore oil well platforms in the Gulf of Mexico off Port Fourchon, Louisiana, on Wednesday, April 21, 2021. (Luke Sharrett/Bloomberg/Getty Images)
President Biden announced an 11th-hour executive action on Monday that bans new drilling and further oil and natural gas development on more than 625 million acres of U.S. coastal and offshore waters.
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Global Marine, a drilling contractor which merged with Santa Fe International Corporation to form GlobalSantaFe Corporation. Now part of Transocean. Glomar Challenger, the drillship used for the Deep Sea Drilling Project; Glomar Explorer, a large salvage vessel built by the CIA
Trump himself used the law to ban sales of offshore drilling rights in the eastern Gulf of Mexico off the coast of Florida until 2032. Biden's decision will protect the same area with no expiry date.
Transocean was formed as a result of the merger of Southern Natural Gas Company, later Sonat, with many smaller drilling companies.. In 1953, the Birmingham, Alabama-based Southern Natural Gas Company created The Offshore Company after acquiring the joint drilling operation DeLong-McDermott from DeLong Engineering and J. Ray McDermott.