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Transocean Ltd Provides Fleet Update Summary

November 19, 2012

ZUG, SWITZERLAND-Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a monthly fleet update summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out of service time of 15 or more days since October 17, 2012.  Backlog for new contracts or extensions associated with continuing operations since the October 17, 2012 fleet status report is approximately $1.1 billion.

Estimated 2012 out of service time for continuing operations increased by a net 25 days; 2013 out of service time decreased by a net 39 days.  Estimated out of service time on rigs classified as discontinued operations increased by a net 93 days for 2012 and decreased by a net five days for 2013.   The net increase in out of service time for discontinued operations for 2012 and 2013 includes 86 days to complete repairs on the GSF Key Hawaii.

Other highlights are as follows:

  • Discoverer Americas - Awarded a two-year contract for work in the U.S. Gulf of Mexico at a dayrate of $600,000 ($438 million contract backlog). The rig's prior dayrate was $509,000.
  • GSF Grand Banks - Awarded a 32-month contract for work offshore Canada at a dayrate of $410,000 ($394 million contract backlog). The rig's prior dayrate was $297,000.
  • Transocean Winner - Customer exercised a six-well option for work in the Norway sector of the North Sea at a dayrate of $461,000 ($166 million contract backlog).
  • GSF Monarch - Awarded an 18-month contract for work in the U.K. sector of the North Sea at a dayrate of $162,000 ($87 million contract backlog). The rig's prior dayrate was $95,000.

The report can be accessed at www.deepwater.com by clicking on the Fleet Status Report link found in the toolbar.

         Forward-Looking Statements

Statements regarding the estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out of service time, sales of drilling units, as well as any other statements that are not historical facts in the report, are forward-looking statements 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 customers and other third parties, the future prices of oil and gas and other factors detailed in the company's most recent Form 10-K and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.

About Transocean

Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world.  

Transocean owns or has partial ownership interests in, and operates a fleet of, 115 mobile offshore drilling units consisting of 48 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment drilling rigs), 25 Midwater Floaters, nine High-Specification Jackups, 32 Standard Jackups and one swamp barge. Included in the 115 drilling units, the company has 32 Standard Jackups and one swamp barge classified as discontinued operations. In addition, we have six Ultra-Deepwater Drillships and three High-Specification Jackups under construction. 

 For more information about Transocean, please visit the website www.deepwater.com.