Transocean Ltd: Transocean Ltd. Announces Construction Contracts for Five Newbuild High-Specification Jackups

  Transocean Ltd: Transocean Ltd. Announces Construction Contracts for Five
                     Newbuild High-Specification Jackups

ZUG, SWITZERLAND - Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced
that a subsidiary has awarded contracts to Keppel FELS Limited's shipyard in
Singapore for the construction of five Super B 400 Bigfoot Class jackup
drilling rigs. The first rig is expected to be delivered from the shipyard in
the first quarter of 2016 and the remaining four jackups delivered at
approximately four-month intervals thereafter. The combined capital cost for
the five rigs is estimated at under $1.2 billion, excluding capitalized
interest, and includes the shipyard contracts; project management; all
owner-furnished equipment; capital spares and inventory; and costs associated
with operational readiness.

Additionally, each of the five contracts includes an option to order an
additional jackup of the same design and specifications on similar terms. The
first option must be exercised within one year; the remaining four options
must be exercised within consecutive four-month intervals thereafter.

The jackups will be capable of operating in water depths up to 400 feet and
constructing wells up to 35,000 feet. The rigs also will have Keppel FELS'
latest proprietary design and incorporate the most advanced offshore drilling
technology. In addition, the rigs are configured with Transocean-developed
features that improve performance and deliver wells more efficiently for
customers. These include offline tubular handling capabilities, superior
jacking and preload capabilities, a flexible mud system, and simultaneous
operations support. The rigs are designed to accommodate 150 personnel.

"Continuing our growth in the high-specification jackup business is an
important element of our asset strategy," said Steven L. Newman, President and
Chief Executive Officer of Transocean Ltd. "We are very excited about the
potential for these rigs given our expectation for continued customer demand
for assets of this capability and the outstanding operating performance of the
four new high-specification jackups we have recently placed into service."

Forward-Looking Statements

Statements in this news release regarding newbuild high-specification jackup
rigs, operating specifications, contract durations, contract commencement
dates, estimated contract revenues, area of operations, estimated capital
costs, duration and location of construction, options to order additional
units, as well as any other statements that are not historical facts, are
forward-looking statements that involve certain risks, uncertainties and
assumptions. These include but are not limited to operating hazards and
delays, actions by customers and other third parties, the future price of oil
and gas, the actual revenues earned and other factors detailed in the
company's most recent Form 10-K and other filings with the Securities and
Exchange Commission (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 should underlying assumptions prove incorrect, actual results
may vary materially from those indicated. Forward-looking statements are based
on current expectations and 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 or referenced documents 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, 80 mobile offshore drilling units consisting of 46 high-specification
floaters (ultra-deepwater, deepwater and harsh environment drilling rigs), 22
midwater floaters and 12 high-specification jackups. In addition, the company
has seven ultra-deepwater drillships and five high-specification jackups under
construction.

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

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
HUG#1741290