Transocean Ltd is a Swiss offshore drilling contractor that provides drilling services to the oil and gas industry. The company operates a fleet of ultra-deepwater, harsh-environment, and midwater rigs. Transocean's rigs are capable of drilling in water depths of up to 12,000 feet and drilling to depths of up to 40,000 feet. The company's customers include national and international oil companies, independent exploration and production companies, and government-controlled oil companies. Transocean was formed in 1993 and is headquartered in Geneva, Switzerland.