Transocean execs giving safety bonuses to memorial fund

NEW YORK, April 5 Tue Apr 5, 2011 7:35pm EDT

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NEW YORK, April 5 (Reuters) - Transocean Ltd (RIGN.VX) said on Tuesday that its senior managers are donating their 2010 safety bonuses to a memorial fund to help the families of the 11 workers killed in the explosion of its Deepwater Horizon rig, which caused the BP (BP.L) oil spill.

The donations -- being made by the company's chief executive officer, chief financial officer and three other executive vice presidents -- will exceed $250,000. The company said more than $1.6 million has so far been distributed by the Deepwater Horizon Memorial Fund.

BP was leasing Transocean's rig when it exploded, killing 11 workers and rupturing BP's underwater Macondo well. (Reporting by Martinne Geller; Editing by Gary Hill)

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