Transocean Inc. Announces Resignation of Richard D. Kinder From Board of Directors
\"During his seven-year tenure on the Transocean Board, Rich Kinder providedstrong leadership and counsel through a period of rapid growth at our Company,\"said J. Michael Talbert, Chief Executive Officer of Transocean Inc. \"Hisexceptional business sense and knowledge of global energy markets will bemissed. We wish him well in every endeavor.\"
Mr. Kinder is Chairman of the Board and Chief Executive Officer of both KinderMorgan, Inc. and Kinder Morgan Energy Partners, L.P., which own and operatediversified energy assets. He served as a Transocean Inc. director sinceNovember 1994. Transocean Inc. does not intend to fill the vacancy created byMr. Kinder's resignation and will operate with an 11-member Board of Directors.
Transocean Inc. is the world's largest offshore drilling contractor with morethan 150 fully or partially owned or operated mobile offshore drilling units,inland drilling barges and other assets utilized in the support of offshoredrilling activities worldwide. The company's mobile offshore drilling fleet isconsidered one of the most modern and versatile in the world with 31high-specification semisubmersibles and drillships, 28 other semisubmersiblesand one drillship and 54 jackup drilling rigs. Transocean Inc. specializes intechnically demanding segments of the offshore drilling business, includingindustry-leading positions in deepwater and harsh environment drilling services.With a current equity market capitalization in excess of $10 billion, thecompany's ordinary shares are traded on the New York Stock Exchange under thesymbol \"RIG.\"
CONTACT: Transocean Inc., Houston Analyst Contact: Jeffrey L. Chastain, 713/232-7551 or Media Contact: Guy A. Cantwell, 713/232-7647