Transocean’s GSF Development Driller II crosses Istanbul’s Bosphorus on its way to the Black Sea September 6, 2014.Murad Sezer HOUSTON (Reuters) – Mergers among offshore oil drillers are raising hopes that consolidation could bring relief to a sector struggling to emerge from an industry downturn triggered by low crude prices. Transocean Ltd, one of the world’s largest offshore drilling contractors, on Tuesday agreed to buy Norwegian rival Songa Offshore SE for $1.1 billion. The deal follows Ensco Plc’s pending purchase of Atwood Oceanics Inc in a transaction valued at $839 million. The deals would bolster both companies’ positions in major oil and gas-producing regions: Transocean in the North Sea and Ensco in offshore Australia. They come as oil prices remain below where they began the year, adding to worries about excess rig capacity continuing into the next year. “I think everyone realizes that consolidation is important […]