23/08/22

Carey Olsen supports Transocean as Viasit Inc. comes onboard joint venture Inteliwell to accelerate autonomous well construction.

Press release from Carey Olsen on Tuesday 23 August, 2022.

Carey Olsen's corporate team in the Cayman Islands has advised longstanding client Transocean Ltd. (NYSE:RIG) as it brings global communications company Viasit Inc. (NASDAQ:VSAT) alongside as a partner in its joint venture, trading as Inteliwell, with Intellilift AS, a subsidiary of Nekkar ASA (OSE:NKR).

Transocean Ltd. is a leading international provider of offshore contract drilling services for oil and gas wells and operates the highest specification floating offshore drilling fleet in the world. Inteliwell's mission is to decrease drilling times through rig automation and streamlining of the well construction process using new processes and tools driven by artificial intelligence. Inteliwell will offer a suite of applications that will provide an end-to-end, closed-loop workflow for well construction planning, execution, and monitoring.

The Carey Olsen team advising Transocean on the Cayman Islands legal and regulatory aspects of the deal, comprised partner Nick Bullmore and counsel Dylan Wiltermuth.

Nick said: "We were delighted to advise the team at Transocean on this exciting development for Inteliwell as it continues its mission to both improve safety and streamline construction."