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Transocean Ltd. Takes Decision To Scrap Two Floaters

April 1, 2015

ZUG, SWITZERLAND, April 1, 2015 -Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced that it intends to scrap, in an environmentally responsible manner, the following two rigs: GSF Aleutian Key and Sedco 707. These rigs are classified as held for sale. As a result of this decision, the company expects its first quarter 2015 results to include an estimated non-cash charge of $90 million to $110 million, net of taxes. Including these two rigs, Transocean has announced plans to scrap a total of 18 floaters. As the company continues to evaluate the long-term competitiveness of its fleet, additional rigs may be identified as candidates for scrapping.

Transocean filed this disclosure today on Form 8-K, which is posted to the company’s website at: http://www.deepwater.com/investor-relations/sec-filings