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Transocean Ltd. Shareholders Approve All Proposals at Annual General Meeting

May 18, 2012

ZUG, SWITZERLAND, May 18, 2012 (MARKETWIRE via COMTEX) --Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced that its shareholders elected three new members and reelected two current members to the Board of Directors and approved all other agenda items at the company's 2012 Annual General Meeting in Cham, Switzerland, today.

Glyn Barker, Vanessa C.L. Chang and Chad Deaton were elected as new Class I Directors, each for a three-year term, and Edward R. Muller and Tan Ek Kia were reelected as Class I Directors, each for a three-year term.

Shareholders also approved the meeting's other agenda items, as follows:

--  The 2011 Annual Report, including the consolidated financial
    statements for fiscal year 2011 and the statutory financial statements
    for fiscal year 2011.
--  The appropriation of available earnings for fiscal year 2011.
--  An advisory vote approving the compensation of the company's named
    executive officers.
--  The appointment of Ernst & Young LLP as the company's independent
    registered public accounting firm for fiscal year 2012 and the
    reelection of Ernst & Young Ltd., Zurich, as the company's auditor
    for another one-year term.

About Transocean Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. We own or have partial ownership interests in and operate a fleet of 129 mobile offshore drilling units consisting of 50 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 25 Midwater Floaters, nine High-Specification Jackups, 44 Standard Jackups and one swamp barge. In addition, we have two Ultra-Deepwater drillships and four High-Specification Jackups under construction. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services. We believe we operate one of the most versatile offshore drilling fleets in the world.

For more information about Transocean, please visit the website at www.deepwater.com.

SOURCE: Transocean Ltd.