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Transocean Names Gregory S. Panagos Vice President, Investor Relations and Communications

June 18, 2007

HOUSTON, June 18, 2007 (PRIME NEWSWIRE) -- Transocean Inc. (NYSE:RIG) today announced that Gregory S. Panagos has been named Vice President of Investor Relations and Communications, effective immediately.

Mr. Panagos joins Transocean with 16 years of experience in investor relations. He previously served as Director of Investor Relations and Planning at Noble Energy (NYSE:NBL). Prior to Noble Energy he was Managing Director of Shimmerlik Corporate Communications from 2000 to 2002. He also served in roles of increasing responsibility at Pennzoil Company and Pennzoil-Quaker State Company from 1988 to 2000, including Vice President, Corporate Communications.

"Greg's longstanding service and deep experience covers many areas that will benefit our relations with analysts and our key audiences," said Transocean Chief Executive Officer Robert L. Long. "He is a great addition to our team, and we look forward to working with him."

Mr. Panagos earned an MBA in Finance from Rice University and a Bachelor of Arts degree in Economics/Accounting from Claremont McKenna College.

Mr. Panagos replaces John H. Briscoe, who has been named Vice President, Audit and Advisory Services.

Transocean Inc. is the world's largest offshore drilling contractor with a fleet of 82 mobile offshore drilling units. The company's mobile offshore drilling fleet, consisting of a large number of high-specification deepwater and harsh environment drilling units, is considered one of the most modern and versatile in the world due to its emphasis on technically demanding segments of the offshore drilling business. The company's fleet consists of 33 High-Specification Floaters (semisubmersibles and drillships), 20 Other Floaters, 25 Jackups and other assets utilized in the support of offshore drilling activities worldwide. With a current equity market capitalization in excess of $29 billion, Transocean Inc.'s ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."

The Transocean Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2252

CONTACT: Transocean Inc.
Analyst Contact:
Greg Panagos
713-232-7551
Media Contact:
Guy A. Cantwell
713-232-7647