SKF signed a service contract with Transocean, the largest drilling company in the world. The contract is worth SEK 10 million and covers asset reliability services for 59 of Transocean's drilling rigs located in the North Sea, the Mediterranean and the Caspian Seas as well as outside the West Coast of Africa.

"By being a global knowledge engineering company, SKF is able to undertake a contract of this type and magnitude," said Vartan Vartanian, President SKF Service Division. "In this specific case several SKF units across the globe will cooperate and interact successfully in order to fulfill the contract."

SKF will assist Transocean in developing a consistent approach to onboard machinery lubrication practices, including processes and common sets of guidelines.

This type of service contract provides SKF with the opportunity to expand its offering in the offshore drilling sector which is a growing industry and focus area for SKF.

Tags: SKF, Transocean Inc.