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Transocean Inc. Announces Management Appointments

October 18, 2006

HOUSTON--(BUSINESS WIRE)--Oct. 18, 2006--Transocean Inc.(NYSE:RIG) today announced several appointments within the company'ssenior management team with each appointment effective immediately.

Jean P. Cahuzac has been named President of Transocean Inc. Mr.Cahuzac, who previously served as Executive Vice President and ChiefOperating Officer of the company, will report to Robert L. Long, whowill continue to serve as Chief Executive Officer of Transocean Inc.and as a Director of the company. Mr. Cahuzac joined a predecessorcompany of Transocean in 1979 and has held various internationaltechnical and senior management positions in the oil and gas industryover the past 27 years. He holds a degree from Ecole des Mines SaintEtienne and the French Petroleum Institute.

Steven L. Newman has been named Executive Vice President and ChiefOperating Officer of Transocean Inc. Mr. Newman previously served asSenior Vice President of Human Resources and Information ProcessSolutions. He joined the company in 1994 in the Corporate PlanningDepartment and has served as Vice President of Performance andTechnology and in several regional and division operations roles. Mr.Newman holds a Bachelor of Science degree in Petroleum Engineeringfrom the Colorado School of Mines and earned an MBA from the HarvardUniversity Graduate School of Business.

David J. Mullen has been named Senior Vice President of Marketingand Planning for Transocean Inc. Mr. Mullen previously served as VicePresident of the company's North and South America Unit. Mr. Mullenhas 25 years of experience in the oil and gas field including 22 yearswith Schlumberger Ltd. He originally joined Transocean in 2001 as VicePresident of Human Resources before rejoining Schlumberger in 2002 asPresident of Schlumberger Oilfield Services for North and SouthAmerica. He holds a degree in Geology from Trinity College in Dublin,Ireland, and a master's degree in Geophysics from the College ofGalway, Ireland.

Finally, Robert (Rob) J. Saltiel has been named Senior VicePresident of the company's North and South America Unit. Mr. Saltiel,who joined the company in 2003, previously held the position of SeniorVice President of Marketing and Planning. Prior to joining Transocean,he served as Vice President of Corporate Marketing for NaborsIndustries and began his career as a process engineer for ExxonMobil.He later joined McKinsey & Company as a consultant to energy clientsin the upstream, downstream and oil services segments. Mr. Saltielholds a Bachelor's degree in Chemical Engineering from PrincetonUniversity and an MBA from the Kellogg School of Management atNorthwestern University.

Transocean Inc. is the world's largest offshore drillingcontractor with a fleet of 82 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 33High-Specification Floaters (semisubmersibles and drillships), 20Other Floaters, 25 Jackups and other assets utilized in the support ofoffshore drilling activities worldwide. With a current equity marketcapitalization in excess of $20 billion, Transocean Inc.'s ordinaryshares are traded on the New York Stock Exchange under the symbol\"RIG.\"

CONTACT: Transocean Inc., Houston
Analyst Contact: Jeffrey L. Chastain, 713-232-7551
or
Media Contact: Guy A. Cantwell, 713-232-7647

SOURCE: Transocean Inc.