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Transocean Inc. Announces Three Management Appointments

March 11, 2008

HOUSTON, March 11, 2008 (PRIME NEWSWIRE) -- Transocean Inc. (NYSE:RIG) today announced three appointments within the company's senior management team, with each appointment effective March 21.

Arnaud Bobillier has been named Executive Vice President, Assets, succeeding Jean Cahuzac, who is leaving the company to pursue another opportunity. Based in Houston, Mr. Bobillier will report to Jon Marshall, President and Chief Operating Officer.

Mr. Bobillier previously served as Senior Vice President of the company's Europe and Africa Unit (EAU), which covers offshore drilling operations in 15 countries. He began his career with a predecessor company in 1980 and has served in various management positions in several countries, including the United States, France, Saudi Arabia, Indonesia, Congo, Brazil, South Africa and China. He holds an engineering degree in fluid mechanics and thermodynamics from the Ecole Superieure des Techniques de l'Ingenieur de Nancy, France.

Ricardo Rosa has been named Senior Vice President, EAU, replacing Arnaud Bobillier. Based in Paris, he will report to Steven Newman, Executive Vice President, Performance.

Mr. Rosa previously served as Senior Vice President of the company's Asia and Pacific Unit (APU), which covers Egypt, the Arabian Gulf, the Indian sub-continent, Asia, Australasia and the Pacific Rim, including the eastern sea-board of the Russian Federation. Previously, he served the company as Vice President and Controller and in a variety of international positions in finance for 19 years with Transocean, a predecessor company and its parent firm. Mr. Rosa graduated from Oxford University in the United Kingdom with a Master of Arts degree and subsequently qualified as a Chartered Accountant with the Institute of Chartered Accountants in England and Wales.

Deepak Munganahalli has been named Senior Vice President, Asia and Pacific Unit, succeeding Ricardo Rosa. Based in Singapore, Mr. Munganahalli will report to Steven Newman, Executive Vice President, Performance.

Previously, Mr. Munganahalli served as Manager of the company's India Division, which has grown in recent years from one rig to 13 mobile offshore drilling units. He joined a predecessor company in 1991 and has served in various positions of increasing responsibility, including head of operations in Gabon and Corporate Training Manager in Pau, France. Mr. Munganahalli is a graduate of the Indian Institute of Technology at Kanpur and Harvard Business School's General Management Program.

Transocean Inc. 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 plus eight ultra-deepwater units under construction, the company'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. The company owns or operates a contract drilling fleet of 39 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 29 Midwater Floaters, 10 High-Specification Jackups, 56 Standard Jackups and other assets utilized in the support of offshore drilling activities worldwide. With a current equity market capitalization of approximately $41.9 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.primenewswire.com/newsroom/prs/?pkgid=2252

CONTACT: Transocean Inc.
Analyst Contact:
Gregory S. Panagos
713 232 7551
Media Contact:
Guy A. Cantwell
713 232 7647