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Transocean Inc. Provides Update On Fleet Contract Status

April 2, 2007
HOUSTON, Apr 4, 2007 (PrimeNewswire via COMTEX News Network) -- Transocean Inc. (NYSE:RIG) today announced that its report of drilling rig status and contract information covering the company's offshore drilling fleet dated April 2, 2007 has been amended in order to avoid confusion by deleting the second reference to Chevron's fixed price option on the Sedco 706 which was disclosed under both the Other Floaters heading and the Fixed Price Option heading in the prior version of the report. As stated in the footnote to the Other Floaters section of the report, Chevron has the right to convert its three-year contract at $361,000 per day to a five-year contract at $300,000 per day. The amended version of the report is available through the company's Worldwide Web address at www.deepwater.com. The report can be accessed from the home page of the Web address by clicking on the Fleet Update Report link found in the tool bar.

Statements regarding the estimated duration of client contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects, 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.

Transocean Inc. is the world's largest offshore drilling contractor with a fleet of 82 mobile offshore drilling units. The company's mobile offshore drilling fleet, consisting of a large number of high-specification deepwater and harsh environment drilling units, 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's fleet consists of 33 High-Specification Floaters (semisubmersibles and drillships), 20 Other Floaters, 25 Jackups and other assets utilized in the support of offshore drilling activities worldwide. With a current equity market capitalization in excess of $24 billion, Transocean Inc.'s ordinary shares are traded on the New York Stock Exchange under the symbol "RIG."

The Transocean Inc. logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2252

This news release was distributed by PrimeNewswire, www.primenewswire.com

SOURCE: Transocean Inc.

Transocean Inc.
          Analyst Contact:
          John H. Briscoe
            (713) 232-7551 
          Media Contact:
          Guy A. Cantwell
            (713) 232-7647