21-03-01 Transocean Sedco Forex expects to spend $ 565 mm on its existing fleet, to expand corporate infrastructure and to complete five major construction projects and upgrades in 2001, according to a filing with the Securities and Exchange Commission.
Transocean had capital expenditures, including capitalized interest, totalling $ 575 mm during 2000. The company said it's planning major upgrades on its Discoverer 534 drill ship, Sedco 710 semi submersible, and a conversion of its Sedco 135D unit to an offshore production facility. Transocean estimates it will spend $ 296 mm on five major construction projects in 2001.
The company intends to fund the cash requirements with available cash balances, cash generated from operations, borrowings under its revolver and other commercial bank or capital market financings, the filing said.

Transocean, Houston, provides drilling services, equipment and workers for oil and gas wells on a per-diem or turnkey basis.