TRANSOCEAN TRANSFERS OCEAN RIG OLYMPIA TO GLOBAL SEA MINERAL RESOURCES
Transocean announced that one of its wholly owned subsidiaries has agreed to make an investment in Global Sea Mineral Resources NV (GSR) in exchange for a non-controlling interest in the company. GSR is the deep-sea mineral exploratory division of DEME Group NV and is engaged in the development and exploration of deep-sea polymetallic nodules that contain metals critical to the growing renewable energy market, and is a leading developer of nodule collection technology.
Transocean has agreed to contribute the stacked Ocean Rig Olympia for GSR’s ongoing exploration work, as well as make a nominal cash investment. In addition, Transocean expects to contribute engineering services on an in-kind basis. GSR intends to convert the Olympia for a system integration test scheduled for 2025 to validate the technical and environmental feasibility of recovering polymetallic nodules in ultra-deepwater on a commercial scale.
The technical challenges associated with the recovery of deep-sea polymetallic nodules offer an opportunity to combine Transocean’s unique ultra-deepwater operating experience with GSR’s proprietary technology in polymetallic nodule collection to deliver a commercially viable nodule recovery enterprise for GSR.
Critical minerals found in deep-sea polymetallic nodules such as cobalt, nickel, copper, manganese, and rare earth metals are essential for many applications, including the production of high-capacity batteries.
Ocean Rig Olympia is a Samsung S10000E ultra-deepwater drillship built by Samsung Heavy Industries in South Korea in 2011. The unit started operations in West Africa in 2011, drilling for Lukoil and Vanco offshore Ivory Coast.
(Source: Transocean/DEME – Image: Ocean Rig Olympiua in 2011/Lukoil)