Transocean Ltd. Announces Resignation of General Counsel

Transocean Ltd. Announces Resignation of General Counsel 
ZUG, SWITZERLAND -- (Marketwire) -- 10/23/12 --  Transocean Ltd.
(NYSE: RIG) (SIX: RIGN) today announced that on October 23, 2012,
Nick Deeming notified Transocean Ltd. of his resignation as Senior
Vice President, General Counsel and Assistant Corporate Secretary for
personal reasons. The company expresses its gratitude to Mr. Deeming
for his service. 
Effective immediately, Mr. Deeming's responsibilities as General
Counsel will be assumed by Michael F. Munro, Vice President, Deputy
General Counsel and Chief Compliance Officer, and David Schwab,
Senior Associate General Counsel, Global Head of Dispute Resolution.
Messrs. Munro and Schwab will report to Steven L. Newman, President
and Chief Executive Officer. 
Mr. Munro joined Transocean in 2008 as Associate General Counsel and
Chief Compliance Officer. He was named Vice President in February
2010 and Deputy General Counsel in May 2012. Before joining
Transocean, Mr. Munro held legal and compliance positions at Baker
Hughes, Inc. and Bristow Inc. From 1989-2006, he held various
positions with The Dow Chemical Company including Corporate Treasury
Counsel, Managing Counsel International Trade and Deputy Director,
Global Ethics and Compliance. Mr. Munro earned his bachelor's degree
at the University of Michigan, Ann Arbor, and a joint Juris Doctorate
and Masters of Business Administration from the University of Notre
Mr. Schwab joined Transocean in 2010 as Associate General Counsel
responsible for the company's legal affairs in North and South
America. In June 2011, he was appointed Global Head of Dispute
Resolution, responsible for all of Transocean's material litigation,
and in April 2012 he became Senior Associate General Counsel. Prior
to joining Transocean Mr. Schwab was with Air Liquide for 10 years,
most recently as General Counsel of the company's global engineering
businesses. Before joining Air Liquide, Mr. Schwab was with the law
firm of Bracewell & Patterson, L.L.P. Mr. Schwab earned his
bachelor's degrees in public policy studies and political science at
Duke University and his Juris Doctorate from Southern Methodist
University School of Law. 
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 115 mobile offshore drilling units consisting of 48
High-Specification Floaters (Ultra-Deepwater, Deepwater and
Harsh-Environment drilling rigs), 25 Midwater Floaters, nine
High-Specification Jackups, 32 Standard Jackups and one swamp barge.
Included in the 115 drilling units, the company has 32 Standard
Jackups and one swamp barge classified as discontinued operations. In
addition, we have six Ultra-Deepwater Drillships and three
High-Specification Jackups under construction. 
For more information about Transocean, please visit our website at 
Analyst Contacts:
Thad Vayda
+1 713-232-7551 
Diane Vento
+1 713-232-8015 
Media Contact:
Guy A. Cantwell
+1 713-232-7647 
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