Transocean Partners LLC: Transocean Partners LLC Prices Initial Public Offering

    Transocean Partners LLC: Transocean Partners LLC Prices Initial Public
                                   Offering

ABERDEEN, SCOTLAND, July 31, 2014 - Transocean Partners LLC, a Marshall
Islands limited liability company formed by Transocean Ltd., announced today
the pricing of its initial public offering of 17,500,000 common units
representing limited liability company interests at $22.00 per unit. All of
the common units are being offered by Transocean Partners Holdings Limited, a
wholly owned subsidiary of Transocean Ltd. Transocean Partners Holdings
Limited has also granted the underwriters of the offering a 30-day option to
purchase up to an additional 2,625,000 common units.

The common units being offered represent a 25.4 percent limited liability
company interest in Transocean Partners LLC, or a 29.2 percent limited
liability company interest if the underwriters exercise in full their option
to purchase additional common units. Transocean Ltd., through Transocean
Partners Holdings Limited, will own the remaining limited liability company
interests in Transocean Partners.

The common units are expected to begin trading on the New York Stock Exchange
on July 31, 2014 under the ticker symbol "RIGP." The offering is expected to
close on or about August 5, 2014, subject to customary closing conditions.

Morgan Stanley, Barclays, Citigroup, J.P. Morgan and Wells Fargo Securities
are acting as joint book-running managers for the offering. Credit Suisse,
Goldman, Sachs & Co., BofA Merrill Lynch, DNB Markets, MUFG, Credit Agricole
CIB and Standard Chartered are acting as co-managers. The offering is being
made only by means of a prospectus. When available, copies of the written
prospectus, which meets the requirements of Section 10A under the Securities
Act of 1933, may be obtained from:

Morgan Stanley
Attn: Prospectus Department
180 Varick Street, 2nd Floor
New York, NY 10014
Telephone: 866-718-1649
Email: prospectus@morganstanley.com

Barclays
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Email: barclaysprospectus@broadridge.com
Telephone: (888) 603-5847

Citigroup
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: (800) 831-9146

J.P. Morgan
c/o Broadridge Financial Solutions
1155 Long Island Avenue
Edgewood, New York 11717
Telephone: (866) 803-9204

Wells Fargo Securities
Attn: Equity Syndicate Dept.
375 Park Avenue
New York, New York 10152
Email: cmclientsupport@wellsfargo.com
Telephone: (800) 326-5897

A registration statement relating to these securities has been filed with, and
declared effective by, the U.S Securities and Exchange Commission ("SEC"). The
registration statement is available on the SEC's website at www.sec.gov under
Transocean Partners LLC's name. This press release shall not constitute an
offer to sell or a solicitation of an offer to buy these securities, nor shall
there be any sales of the securities in any state or jurisdiction in which
such an offer, solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or jurisdiction.

About Transocean Partners LLC
Transocean Partners LLC is a growth-oriented limited liability company formed
by Transocean Ltd. to own, operate and acquire modern, technologically
advanced offshore drilling rigs. Headquartered in Aberdeen, Scotland,
Transocean Partners LLC's assets consist of 51 percent interests in rig-owning
and rig-operating companies that own and operate three ultra-deepwater
drilling rigs.

Forward-Looking Statements
This press release contains "forward-looking" statements within the meaning of
the federal securities laws. These statements contain words such as
"possible," "intend," "will," "if" and "expect" and can be impacted by
numerous factors, including the risk that an initial public offering of
Transocean Partners may not occur, risks relating to the securities markets
generally, the impact of adverse market conditions affecting business of
Transocean Partners, adverse changes in laws including with respect to tax and
regulatory matters and other risks. There can be no assurance that actual
results will not differ from those expected by management of Transocean
Partners. Transocean Partners undertakes no obligation to update or revise
such forward-looking statements to reflect events or circumstances that occur,
or which Transocean Partners becomes aware of, after the date hereof.

Analyst Contacts:
Kathleen McAllister
+44 1224 945 100

Thad Vayda
+1 713-232-7551

Media Contact:
Chris Kettmann
+1 713-232-7647

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: Transocean Partners LLC via Globenewswire
HUG#1844271
 
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