Transocean Ltd : Transocean Ltd. Announces Schedule for First Dividend Installment and Currency Election Period

    Transocean Ltd : Transocean Ltd. Announces Schedule for First Dividend
                   Installment and Currency Election Period

TRANSOCEAN LTD. ANNOUNCES SCHEDULE FOR FIRST DIVIDEND INSTALLMENT AND CURRENCY
                               ELECTION PERIOD

ZUG, SWITZERLAND-Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced the
schedule for the first installment of its U.S. dollar-denominated dividend of
$2.24 per share, or approximately $807 million in the aggregate, from
additional paid-in capital. The first installment of $0.56 per share, or
approximately $202 million, is based upon the number of currently outstanding
shares and represents the first of four quarterly installments totaling $2.24
per share, which was approved by shareholders at the company's 2013 Annual
General Meeting held on May 17, 2013.

First Installment Schedule

  *May 29, 2013 - Ex-Dividend Date

  *May 31, 2013 - Record Date

  *June 19, 2013 - Installment Payment Date

Currency Election Period

For shareholders who choose to receive the first dividend installment in Swiss
francs, the dividend payment will be converted into Swiss francs as transacted
by Computershare on or about June 17, 2013. The period to elect to receive
payment of the first dividend installment in Swiss francs starts on June 3,
2013,5 p.m. EDT, 11 p.m. CEST, and ends on June 7, 2013, 5 p.m., EDT, 11 p.m.
CEST.

NOTE: NO ACTION IS REQUIRED IF YOU WISH TO RECEIVE YOUR DIVIDEND IN U.S.
DOLLARS.

    Holders of shares registered in our share register who would like to
receive the first dividend installment in Swiss francs must make their
election in writing to the following address during the election period:

  *Computershare Attn: Steven Myers, 480 Washington Boulevard, 29^th Floor,
    Jersey City, NJ 07310 USA

  *Email: steven.myers@computershare.com 

  *Phone: +1 201-680-5333 

If you hold your shares in the name of a bank, broker or nominee, please
contact your bank, broker or nominee to make the election arrangements.

Forward-Looking Statements

The statements described in this press release that are not historical facts
are forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements which could be made include, but are not limited
to, the dividend and timing of dividend payments. 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, including those discussed in the company's most
recent Form 10-K for the year ended December 31, 2012 and in the company's
other filings with the SEC, which are available free of charge on the SEC's
website at www.sec.gov. 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 results may vary
materially from those indicated or expressed or implied by such
forward-looking statements. All subsequent written and oral forward-looking
statements attributable to the company or to persons acting on our behalf are
expressly qualified in their entirety by reference to these risks and
uncertainties. You should not place undue reliance on forward-looking
statements. Each forward-looking statement speaks only as of the date of the
particular statement, and we undertake no obligation to publicly update or
revise any forward-looking statements. All non-GAAP financial measure
reconciliations to the most comparative GAAP measure are displayed in
quantitative schedules on the company's website at www.deepwater.com.

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, 84 mobile offshore drilling units consisting of 48 High-Specification
Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment drilling rigs), 25
Midwater Floaters and 11 High-Specification Jackups. In addition, we have six
Ultra-Deepwater Drillships and one High-Specification Jackup under
construction.

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

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Source: Transocean Ltd via Thomson Reuters ONE
HUG#1703550