PRESS RELEASE: Transocean Ltd. Provides Fleet Update Summary

Transocean Ltd. / Transocean Ltd. Provides Fleet Update Summary . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.

ZUG, SWITZERLAND--(Marketwire - December 17, 2012) - Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today issued a monthly fleet update summary which includes new contracts, significant changes to existing contracts, and changes in estimated planned out of service time of 15 or more days associated with continuing operations since November 18, 2012. The value of new contracts or extensions since the November 18, 2012 fleet update summary is approximately $119 million.

Estimated 2012 out of service time increased by a net 40 days, including 22 days to complete repairs on the Henry Goodrich and 19 days to complete work scope on the GSF Explorer. Estimated 2013 out of service time decreased by a net 17 days.

Other highlights are as follows:

* Discoverer Seven Seas - Awarded a three-well contract for work offshore Indonesia at a dayrate of $500,000 ($90 million contract backlog). The rig's prior dayrate was $490,000. * GSF Magellan - Customer exercised a six-month option for work offshore Nigeria at a dayrate of $160,000 ($29 million contract backlog). The rig's prior dayrate was $143,000. * On November 30, 2012, the company completed the sale of 37 standard jackups and one swamp barge to Shelf Drilling and will no longer include the rigs in the monthly fleet updates.

The report can be accessed at www.deepwater.com by clicking on the Fleet Status Report link found in the toolbar.

Forward-Looking Statements

Statements regarding the estimated duration of customer contracts, contract dayrate amounts, future contract commencement dates and locations, planned shipyard projects and other out of service time, sales of drilling units, as well as any other statements that are not historical facts in the report, are forward-looking statements that involve certain risks, uncertainties and assumptions. These include but are not limited to operating hazards and delays, risks associated with international operations, actions by customers and other third parties, the future prices of oil and gas and other factors detailed in the company's most recent Form 10-K and other filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated.

About Transocean

Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world.

Transocean owns or has partial ownership interests in, and operates a fleet of, 82 mobile offshore drilling units consisting of 48 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment drilling rigs), 25 Midwater Floaters and nine High-Specification Jackups. In addition, we have six Ultra- Deepwater Drillships and three High-Specification Jackups under construction.

For more information about Transocean, please visit the website www.deepwater.com.

Analyst Contacts: Thad Vayda +1 713-232-7551

Diane Vento +1 713-232-8015

Media Contact: Guy A. Cantwell +1 713-232-7647

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Transocean Ltd. via Thomson Reuters ONE [HUG#1665783]

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Transocean Ltd. Chemin de Blandonnet 10 Vernier Switzerland

ISIN: CH0048265513;

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   December 17, 2012 16:15 ET (21:15 GMT)- - 04 15 PM EST 12-17-12