Transocean Ltd is a Swiss corporation. The Company together with its subsidiaries is an international provider of offshore contract drilling services for oil and gas wells. Its primary business is to contract its drilling rigs, related equipment and work crews predominantly on a day rate basis to drill oil and gas wells. It specializes in technically demanding regions of the offshore drilling business with a particular focus on Deepwater and harsh environment drilling services. It has two operating segments namely contract drilling services and drilling management services. Its contract drilling services business operates in a single, market for the provision of contract drilling services. The location of rigs and the allocation of resources to build or upgrade rigs are determined by the activities and needs of customers. Its drilling fleet are characterized as follows; floaters, including drillships and semisubmersibles and jackups. It is exempt from cantonal and communal income tax in Switzerland, but is subject to Swiss federal income tax.
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