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Transocean Sets Depth Record

Maritime Activity Reports, Inc.

May 21, 2008

Transocean Inc. said that the its jackup GSF Rig 127 set a world record for the longest extended-reach well ever drilled at 40,320 ft. (12,289 m) MD (measured depth) with a 35,770-ft. (10,902-m) horizontal section. The well was drilled offshore Qatar in 36 days and incident-free. The new record of 7.6 miles is also the first well in the history of offshore drilling that exceeds 40,000 ft. (12,191 m). The well surpasses by approximately 2,000 ft. the prior extended-reach record of 38,322 ft. (11,680 m) MD set by another drilling contractor with a land rig drilling at Sakhalin Island earlier this year.

The rig's crewmembers, working with the client, Maersk Oil Qatar AS, overcame many constraints, including high drilling torque throughout certain parts of the horizontal section. The Well BD-04A is in the Al-Shaheen field offshore Qatar. Crews used extensive deck-management planning and a supply boat to hold additional drill pipe so that the rig could stay within its variable deck load rating.

Gary Bauer, Transocean's Egypt and Middle East Division Manager, said, "It goes without saying that your accomplishment truly epitomizes and embraces Transocean's vision statement where Rig 127 has a group of highly motivated people dedicated to achieving operational excellence in an incident-free environment and being recognized for delivering superior performance. Well done to the entire Rig 127 Team and continued success in delivering safe, superior performance."

Making the record even more impressive is the fact that the Friede & Goldman L-780 Mod II design jackup, with 250-ft. water depth capability, operates with just two Emsco FB 1600 Mud pumps. Other equipment includes the rig's 2000-hp National 1320 UE Drawworks, and a Varco TDS-4S Top Drive. In addition to its record-setting performance, GSF Rig 127 crews last April reached one year without a lost-time injury.

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