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Transocean Ltd. Issues Statement of Clarification

May 12, 2010

ZUG, SWITZERLAND, May 11, 2010 (MARKETWIRE via COMTEX) --In response to several inaccurate reports that detail Transocean's(NYSE: RIG) (SIX: RIGN) treatment of crew members immediatelyfollowing the April 20, 2010 explosion aboard the Deepwater Horizon,including erroneous allegations that crew members were asked to sign\"waivers,\" the Company would like to clarify the series of eventsthat transpired that evening and the days after the incident.

--  U.S. Coast Guard, as on-scene incident command, not Transocean, in    control of rescue vessel: All decisions aboard the rescue boat, the    Damon Bankston, were made solely by the Coast Guard and all efforts to    transport crew members from the rig to shore were coordinated by the    Coast Guard according to standard maritime procedures. The Company's    immediate concern was to account for all those aboard the rig and to    search for those 11 men who were ultimately determined lost. All    decisions aboard the rescue boat were made solely by the Coast Guard,    including the length of time crew members were kept at sea, the final    destination port and the decision not to allow them use of the    satellite phones aboard the boat. Those crew members who were    critically injured were immediately transported by Medevac to the    appropriate medical facilities. All actions taken by the Coast Guard    were consistent with those taken during other emergency actions at    sea.
--  Transocean did not present incident response forms when crew members    arrived at shore: The rescue ship arrived at Port Fourchon    approximately 27 hours after the incident. Contrary to several    erroneous reports, there was no distribution of any incident response    forms on behalf of Transocean to the crew members at that time. Upon    arrival at Port Fourchon, crew members were given an opportunity to    leave, however, were encouraged to accept transportation to the Crowne    Plaza Hotel in Kenner, Louisiana.
--  Crew members were offered medical care, rooms and opportunity to go    home upon arrival at hotel: The Crowne Plaza Hotel was used as a    central location for the crew members and their families with the goal    of meeting all of their personal and medical needs and of obtaining as    much information about the incident as possible. Upon arriving at the    hotel, crew members were offered the opportunity to meet with    qualified medical professionals, to retire to private rooms where they    could eat, shower and sleep, or go home. Only then did Transocean and    its representatives present crew members with a standard one-page    document that asked them to describe where they were at the time of    the incident, what they were doing, and to affirm, if true, that they    were not a witness and/or that they were not injured. They were free    to complete the form at their leisure, or not at all. Some crew    members even took the forms home and returned them more than seven    days after the incident.

\"Transocean's first commitment has always been and will continue to beto the safety and well-being of our people,\" said Steven L. Newman,President and Chief Executive Officer of Transocean. \"All actions anddecisions taken by our Company representatives, as well as those bythe U.S. Coast Guard, on the evening of the incident and throughoutthe days following, were made with a focus on meeting the personaland medical needs of all those aboard the Deepwater Horizon.\"

About Transocean Transocean is the world's largest offshoredrilling contractor and the leading provider of drilling managementservices worldwide. With a fleet of 139 mobile offshore drillingunits plus three ultra-deepwater units under construction,Transocean's fleet is considered one of the most modern and versatilein the world due to its emphasis on technically demanding segments ofthe offshore drilling business. Transocean owns or operates acontract drilling fleet of 45 High-Specification Floaters(Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersiblesand drillships), 26 Midwater Floaters, 10 High-Specification Jackups,55 Standard Jackups and other assets utilized in the support ofoffshore drilling activities worldwide.

SOURCE: Transocean Ltd.