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Transocean Ltd. Reports Fire on Semisubmersible Drilling Rig\r Deepwater Horizon

April 21, 2010

ZUG, SWITZERLAND, Apr 21, 2010 (MARKETWIRE via COMTEX) --Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today reported a fireonboard its semisubmersible drilling rig Deepwater Horizon. Theincident occurred April 20, 2010 at approximately 10:00 p.m. centraltime in the United States Gulf of Mexico. The rig was locatedapproximately 41 miles offshore Louisiana on Mississippi Canyon block252.

Transocean's Emergency and Family Response Teams are working with theU.S. Coast Guard and lease operator BP Exploration & Production, Inc.to care for all rig personnel and search for missing rig personnel. Asubstantial majority of the 126 member crew is safe but some crewmembers remain unaccounted for at this time. Injured personnel arereceiving medical treatment as necessary. The names and hometowns ofinjured persons are being withheld until family members can benotified.

Transocean is the world's largest offshore drilling contractor andthe leading provider of drilling management services worldwide. Witha fleet of 140 mobile offshore drilling units plus threeultra-deepwater units under construction, the company's fleet isconsidered one of the most modern and versatile in the world due toits emphasis on technically demanding segments of the offshoredrilling business. Its worldwide fleet is more than twice the size ofthe next-largest competitor. The company owns or operates a contractdrilling fleet of 46 High-Specification Floaters (Ultra-Deepwater,Deepwater and Harsh-Environment semisubmersibles and drillships), 26Midwater Floaters, 10 High-Specification Jackups, 55 Standard Jackupsand other assets utilized in the support of offshore drillingactivities worldwide.

For more information about Transocean, please visit our website atwww.deepwater.com. Among the documents posted on our web site is theTransocean Ltd. Proxy Statement and 2009 Annual Report.

SOURCE: Transocean Ltd.