Transocean Ltd. : J. Michael Talbert Announces Plans for Retirement From Transocean's Board of Directors

   Transocean Ltd. : J. Michael Talbert Announces Plans for Retirement From
                       Transocean's Board of Directors

Transocean Ltd. / J. Michael Talbert Announces Plans for Retirement From
Transocean's Board of Directors . Processed and transmitted by Thomson Reuters
ONE. The issuer is solely responsible for the content of this announcement.

ZUG, SWITZERLAND--(Marketwired - May 13, 2013) - Transocean Ltd. (NYSE: RIG)
(SIX: RIGN) today announced that J. Michael Talbert has advised the Board of
Directors that, if re-elected at the company's upcoming Annual General Meeting
("AGM") on May 17, he will retire from the Board no later than the company's
2014 AGM. To facilitate an orderly transition of leadership, should Mr.
Talbert be elected by the Board as Chairman following the upcoming AGM, he
will step down as Chairman no later than the Board's November 2013 meeting, at
which time a new, independent Chairman will be announced.Mr. Talbert,
formerly CEO of Transocean from 1994 to 2002, has served on the Board of
Directors since 1994.

Mr. Talbert said, "I am honored to have served Transocean, and to have done so
as a member of a very knowledgeable and experienced Board of Directors.During
my 20 years at Transocean, I have worked diligently to represent the best
interests of all of our stakeholders.In this spirit, and after consultations
with our shareholders, I have decided to retire from the Board on a timetable
that will allow the Board to carefully select a new chairman who will help
guide the company in the creation of sustainable, superior value for all

The Board of Directors issued the following statement:

On behalf of the Board, our shareholders, employees and other stakeholders, we
would like to thank Mike for his many years of service to the company,
including eight years as CEO and three terms as Chairman, and we look forward
to continuing to work with him until his retirement.In conjunction with the
Board and management, Mike had the vision to transform Transocean into the
world's leading offshore driller with the most capable fleet in the
industry.In addition, he helped shepherd the company through the
extraordinarily challenging period following the Macondo incident and was, and
continues to be, instrumental in guiding management in the creation and
implementation of key operational initiatives that are positively impacting
the company's performance.His contribution to the Board will be sorely

"Mike's deep industry and company knowledge, thorough understanding of the
value we provide our customers and consistent, strong leadership have played a
very important role in making Transocean the company it is today," said Steven
Newman, CEO of Transocean. "I want to personally thank him for his mentorship,
counsel and guidance, particularly during the difficult period following the
Macondo incident, and I look forward to continuing to benefit from his
leadership until his retirement."

The company's Corporate Governance Committee intends to promptly commence a
process to identify a candidate to fill the vacancy resulting from Mr.
Talbert's retirement from the Board.As it conducts this process, the
Committee will take into consideration the views of the company's
shareholders.This process will be consistent with Transocean's historical
focus on regularly infusing fresh perspectives into an experienced and
knowledgeable Board as evidenced by the fact that, if elected, current Board
nominee Frederico Curado will be the seventh independent Director to be added
to the Board during the past two years.Among other characteristics, the
Committee will seek a clearly independent candidate with the relevant skills,
character, diverse background and global experience to enhance the Board's
decision-making process and to further its objective of creating value for

Forward Looking Statements

Statements included in this press release, including, but not limited to,
those regarding the proposed dividend, the company's capital allocation
strategy, value-creating objectives and sustainability of potential future
distributions, that are not historical facts, are forward-looking statements
that involve certain assumptions and uncertainties. These statements are based
on currently available competitive, financial, and economic data along with
our current operating plans and involve risks and uncertainties including, but
not limited to, shareholder approval, market conditions, Transocean's results
of operations, the effect and results of litigation, assessments and
contingencies, and other factors detailed in "Risk Factors" in the company's
most recently filed Annual Report on Form 10-K and Quarterly Report for the
first quarter of 2013 filed on Form 10-Q, and elsewhere in Transocean's
filings with the Securities and Exchange Commission. Should one or more of
these risks or uncertainties materialize (or the other consequences of such a
development worsen), or should underlying assumptions prove incorrect, actual
outcomes may vary materially from those expressed or implied by such
forward-looking statements. Transocean disclaims any intention or obligation
to update publicly or revise such statements, whether as a result of new
information, future events or otherwise.

This press release does not constitute an offer to sell, or a solicitation of
an offer to buy, any securities, and it does not constitute an offering
prospectus within the meaning of article 652a or article 1156 of the Swiss
Code of Obligations or a listing prospectus within the meaning of the listing
rules of the SIX Swiss Exchange. Investors must rely on their own evaluation
of Transocean Ltd. and its securities, including the merits and risks
involved. Nothing contained herein is, or shall be relied on as, a promise or
representation as to the future performance of Transocean Ltd.

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, 83 mobile offshore drilling units consisting of 48 High-Specification
Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment drilling rigs), 25
Midwater Floaters and 10 High-Specification Jackups. In addition, we have six
Ultra-Deepwater Drillships and two High-Specification Jackups under

For more information about Transocean, please visit

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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Source: Transocean Ltd. via Thomson Reuters ONE

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Transocean Ltd.
Chemin de Blandonnet 10 Vernier Switzerland

ISIN: CH0048265513;
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