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Transocean Inc. to Participate in the 2005 UBS Global Oil & Gas Conference

May 23, 2005

Transocean Inc. (NYSE:RIG) today announced that Jean P.Cahuzac, Executive Vice President and Chief Operating Officer of thecompany, will participate in the 2005 UBS Global Oil & Gas Conferencein Austin, Texas. Mr. Cahuzac's remarks are scheduled to begin at 7:30a.m., CT, on Wednesday, May 25, 2005.

A live broadcast of Mr. Cahuzac's remarks and a replay will bepublicly accessible through the company's website atwww.deepwater.com. Go to the \"Investor Relations\" link and select\"Presentations.\" Participants are encouraged to log onto the site atleast 15 minutes before the scheduled start of the presentation toensure that minimum software requirements are met.

Transocean Inc. is the world's largest offshore drillingcontractor with a fleet of 93 mobile offshore drilling units. Thecompany's mobile offshore drilling fleet, consisting of a large numberof high-specification deepwater and harsh environment drilling units,is considered one of the most modern and versatile in the world due toits emphasis on technically demanding segments of the offshoredrilling business. The company's fleet consists of 32High-Specification Floaters (semisubmersibles and drillships), 24Other Floaters, 26 Jackup Rigs and other assets utilized in thesupport of offshore drilling activities worldwide. With a currentequity market capitalization in excess of $14 billion, TransoceanInc.'s ordinary shares are traded on the New York Stock Exchange underthe symbol \"RIG.\"

SOURCE: Transocean Inc.

Transocean Inc., HoustonAnalyst Contact:      Jeffrey L. Chastain, 713-232-7551orMedia Contact:        Guy A. Cantwell, 713-232-7647