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Transocean Inc. Announces Management Change and Promotions

October 14, 2002
HOUSTON, Oct 14, 2002 (BUSINESS WIRE) -- Transocean Inc. (NYSE:RIG) todayannounced that Donald R. Ray has been named Executive Vice President, Quality,Health, Safety and Environment, effective immediately. In his new role, Mr. Raywill report directly to Robert L. Long, President and Chief Executive Officer,of Transocean. Mr. Ray previously held the position of Executive Vice President,Technical Services. He joined the company in 1972 as a Research Engineer and hasserved in a number of engineering, research and development positions over his30-year career. Mr. Ray is a graduate of Texas A&M University in CollegeStation, Texas, where he earned bachelor's and master's degrees in civilengineering, and he is a member of the Society of Petroleum Engineers, adirector of the International Association of Drilling Contractors and a memberof the National Offshore Safety Advisory Committee of the U.S. Coast Guard.

The company also announced the following promotions, which are effectiveimmediately:

Robert J. Scott has been named Senior Vice President, Operations. Mr. Scottpreviously held the position of Vice President, Operations Support. He joinedthe company in 1969 and has held a variety of operating management roles overhis 33-years of service.

John W. Rouse has been named Vice President, Engineering and Construction. Mr.Rouse previously held the title of Director of Engineering and Construction. Hejoined the company in 1975 and has served in various engineering roles sincethat time. Mr. Rouse graduated from the University of Houston in 1973 with aBachelor of Science degree in structural/civil engineering. He has completedseveral project-management and other courses, including one on businessnegotiation at Harvard Business School and the University of Pennsylvania'sWharton School project and business management program. A registeredprofessional engineer, he is a member of the American Society of Civil Engineersand is a past recipient of the International Association of DrillingContractors' Special Service Award. Mr. Rouse also served as technical advisorfor the U.S. Delegation to the International Maritime Organization and is thecurrent Chairman of the DNV Rig Owner's Committee.

Mrsrs. Scott and Rouse report to Jean P. Cahuzac, Executive Vice President andChief Operating Officer.

Phillip M. Hall has been named Vice President, Operations Technical Support,reporting to Mr. Scott. Mr. Hall previously held the title of Director ofCorporate Planning. Since joining the company in 1978, he has served in variousoperations and engineering positions. A member of the International Associationof Drilling Contractors and the Society of Petroleum Engineers, Mr. Hallgraduated from Georgia Tech in 1975 with a bachelor of civil engineering degreeand he completed Harvard University's executive management program in 1997.

Transocean Inc. is the world's largest offshore drilling contractor with morethan 150 full or partially owned and managed 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, 27 other semisubmersiblesand one drillship, and 52 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 $6 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