Transocean to offload older rigs

OFFSHORE drilling giant Transocean plans to sell older rigs worth as much as $US1 billion ($A950 million) as part of efforts to upgrade its aging fleet.

Speaking at a Howard Weil Energy Conference in New Orleans, Transocean chief executive Steven Newman said the company expected to sell its older rigs, which are worth $US500 million to $US1 billion

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