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    Transocean provides update on Deepwater Horizon

    News // April 23, 2010

    Deepwater Horizon on fire - the semi-submersible later sank.

    Transocean Ltd has provided an update regarding the fire and explosion onboard its semi-submersible drilling rig Deepwater Horizon and reports that the rig sank late in the morning on April22nd.

    Said the company: "The combined response team was not able to stem the flow of hydrocarbons prior to the rig sinking, and we are working closely with BP Exploration & Production and the US Coast Guard to determine the impact from the sinking of the rig and the plans going forward. The US Coast Guard has plans in place to mitigate any environmental impact from this situation."

    The incident occurred on April 20th 2010 at approximately 10.00pm Central Time in the Gulf of Mexico. The rig was located approximately 41 miles offshore Louisiana on Mississippi Canyon block 252.

    "The cause of the fire and explosion is unknown at this time. An investigation into the cause of the incident and assessment of the damage will be ongoing in the days or weeks to come," said the company.


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