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Transocean Ltd. Provides Fleet Update Summary

December 16, 2010

ZUG, SWITZERLAND, Dec 16, 2010 (MARKETWIRE via COMTEX) --

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a monthly FleetUpdate Summary covering only newly signed contracts, significantchanges to existing contracts and changes to estimated out of servicetime of 30 days or more for High Specification Floaters or 60 days ormore for all other rigs since our since our last summary datedNovember 16, 2010 and our quarterly Fleet Status Report dated October14, 2010. The summaries and our Fleet Status Report, which covers thecompany's entire offshore drilling fleet, are available through thecompany's Web address at www.deepwater.com and can be accessed fromthe home page of the Web address by clicking on the Fleet UpdateReport link found in the tool bar.

FORWARD-LOOKING STATEMENTS Statements regarding the estimatedduration of client contracts, contract dayrate amounts, futurecontract commencement dates and locations, planned shipyard projectsand other out of service time, as well as any other statements thatare not historical facts in the report, are forward-lookingstatements 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 customersand other third parties, the future prices of oil and gas and otherfactors detailed in the company's most recent Form 10-K and otherfilings with the Securities and Exchange Commission. Should one ormore of these risks or uncertainties materialize, or shouldunderlying assumptions prove incorrect, actual results may varymaterially from those indicated.

About Transocean Transocean is the world's largest offshore drillingcontractor and the leading provider of drilling management servicesworldwide. With a fleet of 138 mobile offshore drilling units andthree ultra-deepwater newbuild drillships and a high-specificationjackup under construction, Transocean's fleet is considered one ofthe most modern and versatile in the world due to its emphasis ontechnically demanding segments of the offshore drilling business.Transocean owns or operates a contract drilling fleet of 45High-Specification Floaters (Ultra-Deepwater, Deepwater andHarsh-Environment semisubmersibles and drillships), 25 MidwaterFloaters, 10 High-Specification Jackups, 55 Standard Jackups andother assets utilized in the support of offshore drilling activitiesworldwide.

SOURCE: Transocean Ltd.