Swiss drilling contractor Transocean has posted a half year loss in revenues, due to a number of “unfavorable items” bringing down the accounts.
Revenues for up to June 2017 amounted to £1.1billion down compared to the £1.6billion made in the same period last year.
The company made a loss of £1.2billion compared to a pre-tax profit of £343million last year
Second quarter 2017 results included net unfavorable items of £1.3 billion write down including a loss on the divestiture of the jackup fleet, impairment of the midwater floater asset group, the early retirement of debt as well as litigation matters and restructuring charges.
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