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Transocean Ltd. Announces Senior Management Changes

January 5, 2012

ZUG, SWITZERLAND, Jan 05, 2012 (MARKETWIRE via COMTEX) --Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced thatRicardo Rosa will step down as Executive Vice President and ChiefFinancial Officer effective January 9, 2012. After a transitionperiod, Mr. Rosa is expected to retire from Transocean effectiveApril 30, 2012. Steven Newman, President and Chief Executive Officer,said, \"On behalf of Transocean I offer my sincere thanks to Ricardofor his many years of service to the company and wish him all thebest in his future endeavors.\" An executive search firm has beenretained to aid in the identification of Mr. Rosa's successor.

Effective January 9, 2012, and until a permanent replacement isnamed, Gregory L. Cauthen (54) will return to the company in the roleof Interim Chief Financial Officer. Mr. Cauthen served most recentlyas a consultant of the Company from September 2009 through August2010. Prior to retirement from Transocean in August 2009, Mr. Cauthenwas Chief Financial Officer of the Company from December 2001 toAugust 2009. He was also Treasurer of the Company from March 2001until July 2003 and served as Vice President, Finance from March 2001to December 2001. Mr. Cauthen holds a Masters in Accounting degreefrom the University of Florida, Gainesville.

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, excluding 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.