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Transocean Ltd. Provides Fleet Update Summary

December 16, 2010

ZUG, SWITZERLAND, Dec 16, 2010 (MARKETWIRE via COMTEX) --

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a monthly Fleet Update Summary covering only newly signed contracts, significant changes to existing contracts and changes to estimated out of service time of 30 days or more for High Specification Floaters or 60 days or more for all other rigs since our since our last summary dated November 16, 2010 and our quarterly Fleet Status Report dated October 14, 2010. The summaries and our Fleet Status Report, which covers the company's entire offshore drilling fleet, are available through the company's Web address at www.deepwater.com and can be accessed from the home page of the Web address by clicking on the Fleet Update Report link found in the tool bar.

FORWARD-LOOKING STATEMENTS Statements regarding the estimated duration of client contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out of service time, as well as any other statements that are not historical facts in the report, are forward-looking statements that involve certain risks, uncertainties and assumptions. These include but are not limited to operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the future prices of oil and gas and other factors detailed in the company's most recent Form 10-K and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.

About Transocean Transocean 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 and three ultra-deepwater newbuild drillships and a high-specification jackup under construction, Transocean'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. Transocean owns or operates a contract drilling fleet of 45 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 25 Midwater Floaters, 10 High-Specification Jackups, 55 Standard Jackups and other assets utilized in the support of offshore drilling activities worldwide.

SOURCE: Transocean Ltd.