Photo Release -- Transocean Ltd. Announces Steven L. Newman to Succeed Robert L....

Photo Release -- Transocean Ltd. Announces Steven L. Newman to Succeed Robert L.
Long as Chief Executive Officer in First Quarter of 2010

ZUG, Switzerland, Aug. 17, 2009 (GLOBE NEWSWIRE) -- Transocean Ltd. (NYSE:RIG)
today announced that Robert L. Long will retire as Chief Executive Officer in
the first quarter of 2010. The Board of Directors has named Steven L. Newman,
currently President and Chief Operating Officer, to succeed Mr. Long upon his
retirement as CEO.

Photos accompanying this release are available at
http://www.globenewswire.com/newsroom/prs/?pkgid=6509 and
http://www.globenewswire.com/newsroom/prs/?pkgid=6510

Robert E. Rose, Chairman of the Board of Directors, said, "The Board chose to
name Steven as part of its succession planning and in order to ensure a smooth
transition. The Board believes Steven will do an excellent job leading
Transocean forward."

"We thank Bob for his tremendous contributions to the company for over 30 years,
including, as CEO, his role in creating a strong, world-class organization from
the combination of Transocean and GlobalSantaFe," he continued.

Commenting on Mr. Newman's appointment to the position of CEO, Mr. Long said,
"Since joining the company in 1994, Steven has proven that he is a solid leader
with a deep understanding of the offshore drilling business and a strong
commitment to our shareholders, customers, employees, host countries and local
communities. While it has been a great privilege to serve as Chief Executive
Officer of Transocean and work with our outstanding people, I am confident that
now is the right time for this transition and that Steven is the ideal person to
lead us into the future."

Mr. Newman has served as President and Chief Operating Officer since May 2008.
He previously served in various senior management roles, including Executive
Vice President of Performance; Executive Vice President and Chief Operating
Officer; Senior Vice President of Human Resources, Information Process
Solutions, and Treasury; and Vice President of Performance and Technology. He
also has served in international field and operations management positions,
including Project Engineer, Rig Manager, Division Manager, Region Marketing
Manager, Region Operations Manager, and Region Manager.

Mr. Newman said, "I want to thank Bob for his superior leadership in
transforming this company into a truly first-class organization with the world's
largest offshore drilling fleet. I have great confidence in the future of
Transocean, and I look forward to working closely with Bob and the Board to
ensure a smooth transition."

Transocean Ltd. is the world's largest offshore drilling contractor and the
leading provider of drilling management services worldwide. With a fleet of 135
mobile offshore drilling units plus eight announced ultra-deepwater newbuild
units, the company's fleet is considered one of the most modern and versatile in
the world due to its emphasis on technically demanding segments of the offshore
drilling business. The company owns or operates a contract drilling fleet of 41
High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment
semisubmersibles and drillships), 26 Midwater Floaters, 10 High-Specification
Jackups, 55 Standard Jackups and other assets utilized in the support of
offshore drilling activities worldwide.

The Transocean Ltd. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=2252

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CONTACT: Transocean Ltd.
Analyst Contact:
Gregory S. Panagos
713-232-7551
Media Contact:
Guy A. Cantwell
713-232-7647