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Transocean Ltd. Provides Fleet Update Summary

May 12, 2011

ZUG, SWITZERLAND, May 12, 2011 (MARKETWIRE via COMTEX) --

Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a monthlyfleet update summary covering only newly signed contracts,significant changes to existing contracts and changes to estimatedout of service time of 60 days or more since our quarterly fleetstatus report dated April 14, 2011.

Drilling rig status and contract information on the company'soffshore drilling fleet has been condensed into a report titled\"Transocean Fleet Status Report,\" which is available through thecompany's Web address at www.deepwater.com. The report can beaccessed from the home page of the Web address by clicking on theFleet Status Report link found in the tool bar.

FORWARD-LOOKING STATEMENTS

Statements regarding the estimated duration of client contracts,contract dayrate amounts, future contract commencement dates andlocations, planned shipyard projects and other out of service time,as well as any other statements that are not historical facts in thereport, are forward-looking statements that involve certain risks,uncertainties and assumptions. These include but are not limited tooperating hazards and delays, risks associated with internationaloperations, actions by customers and other third parties, the futureprices of oil and gas and other factors detailed in the company'smost recent Form 10-K and other filings with the Securities andExchange Commission. Should one or more of these risks oruncertainties materialize, or should underlying assumptions proveincorrect, actual results may vary materially from those indicated.

Transocean is the world's largest offshore drilling contractor andthe leading provider of drilling management services worldwide. Witha fleet of 137 mobile offshore drilling units as well as oneultra-deepwater drillship and three high-specification jackups underconstruction, Transocean's fleet is considered one of the most modernand 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, 53 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.