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Today's Transocean is the modern descendant of the world's most innovative and successful deepwater drilling companies, and the pioneering people who made them great.
For generations Transocean and its legacy companies have led the offshore drilling industry with the most innovative and sophisticated technology, and the people that put it to record-setting use. Transocean traces its roots to onshore drilling operations, where T. Stoneman bought the company's first drilling rig, paying for it with a personal check and putting it on his expense report.
He would later play key leadership roles in pioneering offshore drilling with The Offshore Company. While the first tentative steps to developing the marine drilling industry were being taken in the s, drilling engineers were advancing onshore drilling methods and equipment. Stoneman, shown in the photo above, continued his successful land career in the United States, Raymond Godet, an engineer who would later be a leader in another legacy company, Forex, was busy in France.
Godet bought a German drilling rig in Paris and hooked it up to a boiler from a steam engine, enabling the rig to drill land wells at Saint Marcet. Several legacy Transocean entities emerged in the s when the following companies were formed. An important decade of innovation including the introduction of the world's first mobile jackup drilling rig and the first drillship ushered in new operations. Oil and gas discoveries continued to drive growing demand for offshore drilling services during the s, requiring extensive capital investments for new rigs and equipment.
During this decade, Transocean legacy companies continued to pioneer dynamic positioning DP and other marine technology, enabling rigs to move between wells and stay on drilling locations using thrusters. Innovative drilling technology during this period led to new operations in offshore frontier areas, while mergers and acquisitions integrated some of the most experienced offshore drilling teams in the business.
Transocean's legacy companies achieved milestones that included the introduction of the latest generations of drilling rigs, a major safety achievement and integration through various transactions.
Three of the largest mergers in the company's history occurred in the s. The company's ultra-deepwater and harsh environment floaters also made their mark with a string of world records.
In addition, the company's ultra-deepwater drilling rigs made their mark in the s with a string of world records, including:.
During the current decade, Transocean has continued to set world deepwater drilling records while upgrading our high-specification fleet. Our History Today's Transocean is the modern descendant of the world's most innovative and successful deepwater drilling companies, and the pioneering people who made them great. A Legacy of Bold Leadership For generations Transocean and its legacy companies have led the offshore drilling industry with the most innovative and sophisticated technology, and the people that put it to record-setting use.
Santa Fe began drilling wells onshore in California in In less than two years, the loan was paid in full. The CUSS group was formed. Led by Bill Clements, who would one day become a two-term Texas governor, Sedco began operations with two diesel-powered land rigs. A new pneumatic jacking system raised the unit's legs at one drilling location so that the rig could be moved to the next where the legs were lowered to the seafloor.
At that point, the rig's deck was elevated above the sea surface. Santa Fe entered the offshore drilling business with a contract in Trinidad using a land rig adapted to a jackup barge and provided crews for a drillship offshore California. It expanded drilling operations from the U. She was also the first self-propelled drillship to drill in Alaska's Cook Inlet and was later used in the Pacific in studies to evaluate mining of manganese nodules as part of the Deep Ocean Mining Project.
The Cuss-class drillships names were changed this year from Cuss to Glomar. Neptune Offshore was founded with capital from Forex and Languedocienne-Forenco. The world's first turret-moored drillship, Discoverer I , began operations.
Global Marine placed the first public offerings of debenture and common stock as a Delaware company, providing it independence from Union Oil. The Glomar Challenger began collecting seabed sediment cores around the world, a role that extended into Data collected allowed major advances in the theories of plate tectonics and continental drift.
Schlumberger acquired a majority interest in Forex. Pentagone 81 was commissioned as the first semisubmersible rig built by Neptune of Forex, the French Petroleum Institute and the Hydrocarbon Support fund. The rig later was called the Deepwater Navigator. The unit was contracted to the CIA for a secret mission, reported in the news media to be the recovery of a sunken Soviet submarine. Sonat Offshore Drilling, Inc. In December, Falcon Drilling Company became a publicly-traded company.
Santa Fe celebrated its 50th anniversary. In addition, the company's ultra-deepwater drilling rigs made their mark in the s with a string of world records, including: Deepwater Expedition — 9, feet, water depth record.
Deepwater Millennium — 9, feet, water depth record. Discoverer Spirit — 9, feet, water depth record. Polar Pioneer — 23, feet horizontal well record. Discoverer Deep Seas shown in photo — 10, feet, water depth. Deepwater Spirit — 34, feet, measured depth, deepest offshore oil and gas well record. We will never forget our lost colleagues. In October, Transocean acquired Aker Drilling ASA - Transocean announced plans to construct four, high-specification, ultra-deepwater drillships, backed by drilling contracts for the four rigs, each with a year term.
The 40 rig years represented the largest contracted period signed at one time in the history of the industry. The new drillships, two of which began operations in , provide the most advanced offshore drilling technology available. The company closed on the sale of 38 shallow-water drilling rigs to Shelf Drilling Holdings Ltd. That mark surpassed the prior record of 10, feet 3, meters of water also achieved by the KG1 in February Home About Our History.