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Transocean Completes Acquisition of Aker Drilling

October 4, 2011


Transocean Services AS (\"Transocean\" or the \"Company\"), a whollyowned subsidiary of Transocean Ltd. (NYSE: RIG) (SIX: RIGN), hascompleted the acquisition of 100 percent of the shares of AkerDrilling ASA (\"Aker Drilling\") for NOK 26.50 per share.

This acquisition further strengthens Transocean's industry leadershipposition, adding approximately $1 billion in backlog as well asAker's two harsh environment, semi-submersible drilling rigs and twodrillships under construction in Korea.

Steven Newman, President and Chief Executive Officer of TransoceanLtd., said, \"We are very excited about the opportunities thiscombination brings, both financially and strategically. With theclose of this transaction we've immediately enhanced the overallmakeup of our fleet, strengthened our position in Norway, andfurthered our competitive position in the marketplace through theaddition of high-spec assets and exceptional people. We'd also liketo welcome the Aker employees to the Transocean team and look forwardto working together to identify opportunities to grow our business,provide innovative solutions to our customers, and drive long-termshareholder value.\"

About Transocean

Transocean is the world's largest offshore drilling contractor andthe leading provider of drilling management services worldwide. Witha fleet of 135 mobile offshore drilling units as well as twoUltra-Deepwater Drillships and four 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 50 High-SpecificationFloaters (Ultra-Deepwater, Deepwater and Harsh-Environmentsemisubmersibles and drillships), 25 Midwater Floaters, nineHigh-Specification Jackups, 50 Standard Jackups and one swamp barge.

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

SOURCE: Transocean Ltd.