Transocean Inc. provides offshore drilling services. The company is registered in the Cayman Islands with ordinary shares listed on the NYSE (RIG) exchange. The company takes its name from a Norwegian whaling company formed in the 1970s.
Forex was founded in France in 1944. The Offshore Company was formed in 1953 as a subsidiary of Southern Natural Gas (SNG). Schlumberger acquired 50% of Forex in 1964 and combined it with Languedocienne in form the Neptune Drilling. In 1966, Aker Drilling was formed. Schlumberger acquired the remaining stake in Forex in 1971 and changed the name of its subsidiary to Forex Neptune Drilling. The Offshore Company changed its name to Sonat Offshore Drilling in 1982. Schlumberger acquired Sedco in 1984, and Forex Neptune became Sedco Forex Drilling.
In 1996, Sonat merged with Norway-based Transocean and retained the Transocean name. Norway-based Ocean Rig was established that same year. Schlumberger spun off the Sedco Forex contract drilling division which combined with Transocean to form a new entity in 1999. In 2001, Transocean Sedco Forex and R&B Falcon merged as well as Global Marine and Sante Fe International. Transocean and GlobalSanteFe (GSF) then combined in 2007 to form Transocean. In 2011, the company acquired Norway-based Aker Drilling. Norway-based Songa Offshore and Ocean Rig were acquired in 2018.