Transocean Reports Well Control Incident on Inland Barge Rig

June 18, 2003

Transocean, Inc. reported today that a well-control incident last night on its inland barge Rig 62 regrettably took the life of one its employees. The incident, which resulted in a fire, occurred at approximately 11:00 pm on the rig while working for TransTexas Gas Corporation in Galveston Bay near Galveston, Texas. Twenty-two people were on board the rig, and 21 people were successfully evacuated. Four persons evacuated from the rig were taken to area hospitals and three have been released. The remaining hospitalized person does not appear to have life-threatening injuries.The latest reports indicate that the fire on the rig has diminished and is presently confined to the mud pits and that the well has ceased to flow. TransTexas retained well and pollution control specialists immediately after the incident and they are currently on site. The latest reports indicate that there are no visible signs of pollution and efforts are underway to extinguish the mud pit fire.The company is continuing to investigate the incident and no damage assessment to the rig has been made at this time.

Transocean Reports Well Control Incident on Inland Barge Rig

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