Transocean Ltd. has appointed Esa Ikaheimonen, former vice president and chief financial officer of Swedish deep-sea drilling corporation Seadrill, as its new CFO.
The appointment of Ikaheimonen generated buzz among other sector players on whether or not Transocean will compete with Seadrill in forming a partnership vehicle for some of its own oil rigs. Following the appointment, investors in the industry are also excited to know if Transocean, the world's biggest offshore rig contractor, will use some tactics of its rival to boost its own shareholder value.
Transocean has been facing struggles from its weak valuation related to the sector. According to experts, the contractor could resolve its value woes if it were to setup a partnership for some of its huge assets through investment on a specific part of rig fleet.
The company reported a higher-than-expected quarterly profit, boosted by the growing demand for deepwater drilling rigs.
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