Our Safety Vision challenges every employee to achieve a single goal: operations conducted in an incident-free workplace - all the time, everywhere. Such a vision takes tremendous commitment as shown by our personnel during 2006 when for the second straight year we had the lowest TRIR (Total Recordable Incident Rate per 200,000 hours worked) in the company's history and reached other milestones.

Here are our most significant 2006 safety achievements:

• TRIR of 0.92 incidents per 200,000 hours worked, almost achieving our 2006 target of 0.90 and down from 1.06 in 2005 and 1.29 in 2004
• 22 rigs with Zero TRIR
• 49 rigs with Zero SIC (Serious Injury Cases)
• Six of 10 company divisions and 46 rigs that beat the 2006 TRIR target of 0.90
• Three rigs achieved the company safety vision of zero incidents: D.R. Stewart, Interocean III and Sedco 135-D.

Of the six divisions that beat the 2006 TRIR target, the division with the lowest TRIR was West Africa South at 0.43. The other five divisions were: South America at 0.49, Gulf of Guinea at 0.53, Northeast Asia at 0.55, India at 0.69, and the Mediterranean at 0.75.

Besides reducing the number of injuries, it was very encouraging that we significantly reduced the actual and potential severity of the incidents that occurred while also lowering the number of serious near hits by 27%. However, a regrettable fatality did occur last year, reminding us all that we can never relax our efforts.

Also last year, Transocean personnel had an SIC rate of 0.35, compared with our 2006 goal of 0.30, and down from 0.45 in 2005 and 0.52 in 2004.

In order to keep improving our safety performance, our targets for 2007 include zero fatalities, a 0.87 TRIR, a 0.30 SIC rate, a 5.80 TPSPI (Total Potential Severity Per Incident) and a 10% reduction in environmental incidents from 2006.

For more information about our safety performance, please contact: Jimmy Moore, Director, QHSE Services, by e-mail at jimmy.moore@deepwater.com or by telephone at 713 232 7711 or by mail at 4 Greenway Plaza, Houston, TX 77046. Please visit the Career Center section of this Web site if you are interested in submitting a resume for an available job opportunity at Transocean.