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Transocean Inc. Announces Two Management Appointments

May 5, 2008

HOUSTON, May 5, 2008 (PRIME NEWSWIRE) -- Transocean Inc. (NYSE:RIG) today announced two appointments within the company's senior management team.

Steven L. Newman has been named President and Chief Operating Officer, effective May 1, 2008, succeeding Jon A. Marshall whose retirement plans have been announced separately. Mr. Newman will report to the company's Chief Executive Officer Robert L. Long.

Before being named to his current position, Mr. Newman served since late 2007 as Executive Vice President of Performance, leading the company's three business units and focusing on client service delivery and performance improvement across the company's worldwide fleet. He previously served in senior management roles, including Executive Vice President and Chief Operating Officer, Senior Vice President of Human Resources, Information Process Solutions, and Treasury, and Vice President of Performance and Technology. He also has served as Regional Manager for the Asia and Australia Region and in international field and operations management positions, including Project Engineer, Rig Manager, Division Manager, Region Marketing Manager and Region Operations Manager. He joined the company in 1994 in the Corporate Planning Department.

Mr. Newman holds a Bachelor of Science degree in Petroleum Engineering from the Colorado School of Mines and an MBA from the Harvard University Graduate School of Business.

Rob Saltiel has been named Executive Vice President, Performance, reporting to Mr. Newman.

Prior to being named to his current position, Mr. Saltiel served as Senior Vice President of the company's North and South America Unit, which covers the U.S. Gulf of Mexico, Canada, Trinidad and Brazil. Mr. Saltiel previously served as the company's Senior Vice President of Marketing and Planning.

Prior to joining the company in 2003, Mr. Saltiel served as Vice President of Corporate Marketing for Nabors Industries and began his career as a Process Engineer for ExxonMobil. He later joined McKinsey & Company as a consultant to energy clients in the upstream, downstream and oil services segments.

Mr. Saltiel holds a Bachelor's degree in Chemical Engineering from Princeton University and an MBA from the Kellogg School of Management at Northwestern University.

Transocean Inc. is the world's largest offshore drilling contractor and the leading provider of drilling management services worldwide. With a fleet of 138 mobile offshore drilling units plus eight ultra-deepwater units under construction, the company's fleet 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 owns or operates a contract drilling fleet of 39 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 29 Midwater Floaters, 10 High-Specification Jackups, 56 Standard Jackups and other assets utilized in the support of offshore drilling activities worldwide. With a current equity market capitalization of approximately $48.3 billion, Transocean Inc.'s ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."

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