Dhirubhai Deepwater KG1 5-Year Contract

August 11, 2009

Transocean Ltd. (NYSE:RIG) announced that the ultra-deepwater drillship Dhirubhai Deepwater KG1 has commenced operations in India under a five-year drilling contract with Reliance Industries Limited. The company currently expects that Reliance will sublet the rig for the first four years of the contract to Oil and Natural Gas Corporation Limited, and that Reliance will operate the rig for the fifth year of the contract.

The Dhirubhai Deepwater KG1 is the first of two ultra-deepwater newbuild drillships owned by a joint venture company with Pacific Drilling Limited and scheduled to commence operations in 2009 and 2010. The second ultra-deepwater newbuild drillship Dhirubhai Deepwater KG2 is also contracted and is scheduled to commence operations in 2010.

The dynamically positioned, double-hulled drillship Dhirubhai Deepwater KG1 features National Oilwell Varco drilling packages that include advanced offshore drilling technology, with significant off-line tubular-handling and stand-building capabilities, advanced mud system designs, advanced systems for building, storing and running several subsea trees and efficient riser and BOP (blowout preventer) handling systems. The drillship has a variable deckload of approximately 20,000 metric tons, is equipped to work in water depths of up to 10,000 feet and is outfitted to construct wells up to 35,000 feet deep.

In addition, Transocean has another eight ultra-deepwater newbuild floaters, all of which have drilling contracts and are scheduled to commence operations in the next two years. These units are the Discoverer Clear Leader, Discoverer Americas, Discoverer Inspiration, Discoverer India and Discoverer Luanda, Deepwater Champion, Petrobras 10000 and Development Driller III.

Floating Production Systems Report And Online Database

Annual five year outlook and forecast – At the start of each year we prepare a detailed assessment of future deepwater development and forecast the pace of orders for floating production systems over the next five years. Our 2021 annual report looks at market conditions likely to prevail through 2025 and provides our assessment of which of the 200+ floater projects in the planning queue will reach the final investment decision by end-2025

Monthly reports - Our monthly reports provide a detailed snapshot of the business sector as of the middle of each month. More than 100 pages of data and industry analysis each month. Excel spreadsheets with each report enable subscribers to tailor the data presentation to their needs. In our May report we revisit the annual forecast and make revisions as needed.

Online database - The online database is updated every day – with information direct from primary sources. In the database are details for 200+planned projects, 390+ installations in service, 40+ floaters on order and 40+ floaters available. The database is fully searchable. Customized charts and spreadsheets can be directly produced from the database. Data are easily exported to excel spreadsheet.

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