Transocean General Counsel Resigns

Press Release
Wednesday, October 24, 2012

Transocean Ltd. announce Nick Deeming has resigned as Senior Vice President, General Counsel and Assistant Corporate Secretary.

Mr Deeming resigned for personal reasons, and the company expressed its gratitude 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.

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.

Transocean is a leading international provider of offshore contract drilling services for oil and gas wells.

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