On the rise, shares of Transocean Inc. (RIG:transocean inc new shs
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The company said it won a five-year contract for its drillship Deepwater Pathfinder. The deal struck with a subsidiary of Eni SpA is potentially worth up to a maximum of $1.19 billion, a figure that excludes revenue for cost escalations.
Transocean said the contract, which is for drilling operations primarily in U.S. waters of the Gulf of Mexico, is scheduled to start in March 2010. It's the latest in a series of pacts between Transocean and Eni, the Italian oil company.
Why is an Italian Oil company taking our oil?????