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Transocean Ltd. Announces Transocean Leader Awarded Three-Year\r Contract

February 9, 2011

ZUG, SWITZERLAND, Feb 09, 2011 (MARKETWIRE via COMTEX) --

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced that itshigh-specification semisubmersible rig Transocean Leader has beenawarded a three-year contract by a subsidiary of Statoil ASA foroperations in Norway. The contract, which has a one-year extensionoption, is expected to commence in direct continuation of the rig'scurrent contract. Estimated contract revenues related to thethree-year contract are approximately $427 million. Estimatedcontract revenues represent the maximum amount of revenues that maybe earned in the firm contract period, excluding revenues formobilization, cost escalations, customer reimbursed equipment andmiscellaneous adjustments.

The Transocean Leader is one of the five Harsh Environment Floatersthat are part of Transocean's fleet of 47 High-SpecificationFloaters. The rig is capable of operating in water depths up to 4,500feet and drilling wells 25,000 feet deep.

Forward-Looking Statements

Statements in this news release regarding the Transocean Leader,operating specifications, contract durations, revenues, cost, area ofoperations, as well as any other statements that are not historicalfacts, are forward-looking statements that involve certain risks,uncertainties and assumptions. These include but are not limited tooperating hazards and delays, actions by customers and other thirdparties, the future price of oil and gas, the actual revenues earnedand other factors detailed in the company's most recent Form 10-K andother filings with the Securities and Exchange Commission (SEC),which are available free of charge on the SEC's website atwww.sec.gov. Should one or more of these risks or uncertaintiesmaterialize, or should underlying assumptions prove incorrect, actualresults may vary materially from those indicated. Forward-lookingstatements are based on current expectations and Transocean disclaimsany intention or obligation to update publicly or revise suchstatements, whether as a result of new information, future events orotherwise.

About Transocean

Transocean is the world's largest offshore drilling contractor andthe leading provider of drilling management services worldwide. Witha fleet of 138 mobile offshore drilling units as well as oneultra-deepwater newbuild drillship and a high-specification jackupunder construction, Transocean's fleet is considered one of the mostmodern and versatile in the world due to its emphasis on technicallydemanding segments of the offshore drilling business. Transocean ownsor operates a contract drilling fleet of 47 High-SpecificationFloaters (Ultra-Deepwater, Deepwater and Harsh-Environmentsemisubmersibles and drillships), 25 Midwater Floaters, nineHigh-Specification Jackups, 54 Standard Jackups and other assetsutilized in the support of offshore drilling activities worldwide.

For more information about Transocean, please visit our website atwww.deepwater.com.

SOURCE: Transocean Ltd.