Transocean to acquire Aker Drilling for $1.4 billion

Transocean announced this week an offer to acquire Aker Drilling for $1.43 billion that Aker’s Board of Directors has unanimously recommended accepting. The transaction would contribute approximately $1.05 billion in firm contract backlog to Transocean.

Aker Drilling operates two harsh-environment, ultra-deepwater, sixth-generation semisubmersibles currently on long-term contract to Statoil and Det Norske in Norway. In 2013, Aker Drilling is expected to take delivery of two sixth-generation drillships currently under construction at the Daewoo Shipbuilding & Marine Engineering shipyard in South Korea.

“Aker Drilling is an excellent strategic fit for Transocean,” Transocean president and CEO Steven Newman said. “It allows us to enhance our position in Norway, where we have enjoyed a long-term presence and excellent customer relationships. Aker Drilling’s high-quality people and state-of-the-art offshore drilling fleet will ensure that we continue to deliver outstanding service to our customers.”