v2.4.0.8
Drilling Fleet (Tables)
12 Months Ended
Dec. 31, 2013
Drilling Fleet  
Changes in construction work in progress, including capital expenditures and other capital additions, such as capitalized interest

For each of the three years ended December 31, 2013, the changes in our construction work in progress, including capital expenditures and other capital additions, such as capitalized interest, were as follows (in millions):

 

 

 

Years ended December 31,

 

 

 

2013

 

2012

 

2011

 

Construction work in progress, at beginning of period

 

$

2,010

 

$

1,391

 

$

1,459

 

 

 

 

 

 

 

 

 

Newbuild construction program

 

 

 

 

 

 

 

Deepwater Champion (a) (b)

 

 

 

76

 

Transocean Honor (a) (c)

 

 

35

 

129

 

Transocean Siam Driller (a) (d)

 

74

 

39

 

113

 

Transocean Andaman (a) (d)

 

82

 

38

 

113

 

Transocean Ao Thai (a) (d)

 

90

 

72

 

80

 

Deepwater Asgard (e)

 

309

 

46

 

4

 

Deepwater Invictus (e)

 

65

 

40

 

3

 

Deepwater Thalassa (f)

 

154

 

139

 

 

Deepwater Proteus (f)

 

146

 

128

 

 

Deepwater Pontus (f)

 

65

 

76

 

 

Deepwater Poseidon (f)

 

66

 

76

 

 

Deepwater Conqueror (g)

 

108

 

 

 

High-Specification Jackup TBN1 (h)

 

44

 

 

 

High-Specification Jackup TBN2 (h)

 

44

 

 

 

High-Specification Jackup TBN3 (h)

 

44

 

 

 

High-Specification Jackup TBN4 (h)

 

44

 

 

 

High-Specification Jackup TBN5 (h)

 

44

 

 

 

Other construction projects and capital additions

 

859

 

614

 

456

 

Total capital expenditures

 

2,238

 

1,303

 

974

 

Changes in accrued capital expenditures

 

44

 

61

 

(2

)

Acquisition of construction work in progress (e)

 

 

 

272

 

Impairment of certain corporate assets under construction

 

(17

)

 

 

 

 

 

 

 

 

 

 

Property and equipment placed into service

 

 

 

 

 

 

 

Deepwater Champion (b)

 

 

 

(881

)

Transocean Honor (c)

 

 

(262

)

 

Transocean Siam Driller (a) (d)

 

(236

)

 

 

Transocean Andaman (a) (d)

 

(242

)

 

 

Transocean Ao Thai (a) (d)

 

(242

)

 

 

Other property and equipment

 

(845

)

(483

)

(431

)

Construction work in progress, at end of period

 

$

2,710

 

$

2,010

 

$

1,391

 

 

(a)         The accumulated construction costs of this rig are no longer included in construction work in progress, as the construction project had been completed as of December 31, 2013.

(b)         The Ultra-Deepwater Floater Deepwater Champion commenced operations in May 2011.

(c)          The High-Specification Jackup Transocean Honor, owned through our 70 percent interest in TDSOI, commenced operations in May 2012.  The costs presented above represent 100 percent of TDSOI’s expenditures in the construction of Transocean Honor.

(d)         The High-Specification Jackups Transocean Siam Driller, Transocean Andaman and Transocean Ao Thai commenced operations in March 2013, May 2013 and October 2013, respectively.

(e)          Deepwater Asgard and Deepwater Invictus, two newbuild Ultra-Deepwater drillships under construction at the Daewoo Shipbuilding & Marine Engineering Co. Ltd. shipyard in Korea, are expected to commence operations in the second quarter of 2014.  In the year ended December 31, 2011, in connection with our acquisition of Aker Drilling ASA (“Aker Drilling”), we acquired construction work in progress with an aggregate estimated fair value of $272 million.

(f)           Deepwater Thalassa, Deepwater Proteus, Deepwater Pontus and Deepwater Poseidon, four newbuild Ultra-Deepwater drillships under construction at the Daewoo Shipbuilding & Marine Engineering Co. Ltd. shipyard in Korea, are expected to commence operations in the first quarter of 2016, the second quarter of 2016, the first quarter of 2017 and the second quarter of 2017, respectively.

(g)          Deepwater Conqueror, a newbuild Ultra-Deepwater drillship under construction at the Daewoo Shipbuilding & Marine Engineering Co. Ltd. shipyard in Korea, is expected to commence operations in the fourth quarter of 2016.

(h)         Our five unnamed Keppel FELS Super B 400 Bigfoot class design newbuild High-Specification Jackups under construction do not yet have drilling contracts and are expected to be delivered in the first quarter of 2016, the third quarter of 2016, the fourth quarter of 2016, the first quarter of 2017 and the third quarter of 2017, respectively.