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John H. Briscoe Announces Resignation

July 20, 2011

On July 20, 2011, John H. Briscoe notified Transocean Ltd. of his resignation as Vice President, Controller and Principal Accounting Officer. Mr. Briscoe has agreed to remain with the company for a sufficient time necessary to ensure a prudent transition of responsibilities. Mr. Briscoe has advised the company that he intends to pursue another opportunity. Mr. Briscoe’s departure is not related to any disagreements with the company’s accounting, financial reporting or internal control over financial reporting.

The company has not yet named a successor Vice President, Controller and Principal Accounting Officer.