Transocean hopes that the market bottomed out last year

The market bottomed out in 2019, projects the chief executive of drilling company Transocean. The company booked a deficit after taxes of around USD 1.3 billion.

Photo: PR/Transocean

Transocean CEO Jeremy Thigpen hopes that the worst is over for the drilling rig sector, which has been under severe pressure for years now.

His comments come in relation to the annual report for 2019, in which the company reduced its deficit after taxes to USD 1.25 billion in 2019 compared to almost USD 2 billion in 2018.

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