Transocean Fleet Update Summary

Press Release December 17, 2012

Transocean Rig: Photo credit Andrew Dowsett-Oil Rig Photos

Transocean's fleet update summary includes new contracts, significant changes to existing contracts, and changes in estimated OofS time.

The value of new contracts or extensions since the November 18, 2012 fleet update summary is approximately US$119=million.

Estimated 2012 out of service time (OofS increased by a net 40 days, including 22 days to complete repairs on the Henry Goodrich and 19 days to complete work scope on the GSF Explorer. Estimated 2013 out of service time decreased by a net 17 days.

Other highlights are as follows:

Discoverer Seven Seas - Awarded a three-well contract for work offshore Indonesia at a dayrate of $500,000 ($90 million contract backlog). The rig's prior dayrate was $490,000.
GSF Magellan - Customer exercised a six-month option for work offshore Nigeria at a dayrate of $160,000 ($29 million contract backlog). The rig's prior dayrate was $143,000.
On November 30, 2012, the company completed the sale of 37 standard jackups and one swamp barge to Shelf Drilling and will no longer include the rigs in the monthly fleet updates.

Transocean owns or has partial ownership interests in, and operates a fleet of, 82 mobile offshore drilling units consisting of 48 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment drilling rigs), 25 Midwater Floaters and nine High-Specification Jackups. In addition, they have six Ultra-Deepwater Drillships and three High-Specification Jackups under construction.