Exhibit 99.1


		Transocean Inc. (NYSE: RIG) Fleet Status Report

The information contained in this Fleet Update report (the “Information”) is as of the date of the report only and is subject to change without notice to the recipient. Transocean Inc. assumes no duty to update any portion of the Information.

DISCLAIMER. NEITHER TRANSOCEAN INC. NOR ITS AFFILIATES MAKE ANY EXPRESS OR IMPLIED WARRANTIES (INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR USE) REGARDING THE INFORMATION CONTAINED IN THIS REPORT, WHICH INFORMATION IS PROVIDED “AS IS.” Neither Transocean Inc. nor its affiliates will be liable to any recipient or anyone else for any inaccuracy, error or omission, regardless of cause, in the information set forth in this report or for any damages (whether direct or indirect, consequential, punitive or exemplary) resulting therefrom.

No Unauthorized Publication or Use. All information provided by Transocean Inc. in this report is given for the exclusive use of the recipient and may not be published, redistributed or retransmitted without the prior written consent of Transocean Inc.

Client Contract Duration, Timing and Dayrates and Risks Associated with Operations. The duration and timing (including both starting and ending dates) of the client contracts are estimates only, and client contracts are subject to cancellation, suspension and delays for a variety of reasons, including some beyond the control of Transocean Inc. Also, the dayrates set forth in the report are estimates based upon the full contractual operating dayrate. However, the actual average dayrate earned over the course of any given contract will be lower and could be substantially lower. The actual average dayrate will depend upon a number of factors (rig downtime, suspension of operations, etc.) including some beyond the control of Transocean Inc. Our client contracts and operations are generally subject to a number of risks and uncertainties, and we urge you to review the description and explanation of such risks and uncertainties in our filings with the Securities and Exchange Commission (SEC), which are available free of charge on the SEC’s website at www.sec.gov. The dayrates do not include revenue for mobilizations, demobilizations, upgrades, shipyards or recharges.

Out of Service Days (Shipyards, Mobilizations, Etc.). Estimated out of service time for 2008 and 2009 is noted where the company anticipates that a rig will be out of service and not be available to earn an operating dayrate for a period of 14 days or longer. Additional rig out of service time in 2008 and 2009 may occur and will be added to the report as such events arise. With respect to expected out of service time for 2009, we have modified the information in this report given the inherent uncertainty of predicting out of service time events that far in advance. Certain estimated out of service time in 2009 by rig is noted, but only where the out of service time falls within a contract period or between two contracts. We do expect to experience additional rig out of service time in 2009, and will add this information to the report once the timing of such events is more certain. We currently estimate the aggregate out of service time for 2009 that is not reported by rig, including out of service time less than 14 days, to be approximately as reflected in the Fleet Update table entitled “2009 Additional Estimated Potential Out of Service Time by Rig Class” and in the column labled other estimated out-of-service days.” However this additional estimated out of service time is not firm and could change significantly based on a variety of factors. No estimates are made for 2010 and beyond.

Out of service time is denoted as “Mob/Contract Prep” and Shipyard or Project” out of service days. Mob/Contract Prep refers to periods during which the rig is being mobilized, demobilized and/or modifications or upgrades are being made as a result of contract requirements. Shipyard or Project refers to periods during which the rig is out of service as a result of other planned shipyards, surveys, repairs, regulatory inspections or other planned service or work on the rig. Similar Mob/Contract Prep and Shipyard or Project periods of durations under 14 days will occur but are not noted in the Update. In some instances such as certain mobilizations, demobilizations, upgrades and shipyards, we are paid compensation by our clients that is generally recognized over the life of the underlying contract, although such compensation is not typically significant in relation to the revenue generated by the dayrates we charge our clients.

Forward-Looking Statement. The statements made in the Fleet Update that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements made in the Fleet Update include, but are not limited to, statements involving the estimated duration of client contracts, contract dayrate amounts, future contract commencement dates and locations and planned shipyard projects and other out of service time. Such statements are subject to numerous risks, uncertainties and assumptions, including but not limited to, uncertainties relating to the level of activity in offshore oil and gas exploration and development, exploration success by producers, oil and gas prices, competition and market conditions in the contract drilling industry, shipyard delays, actions and approvals of third parties, possible cancellation or suspension of drilling contracts as a result of mechanical difficulties or performance, the Company’s ability to enter into and the terms of future contracts, the availability of qualified personnel, labor relations and the outcome of negotiations with unions representing workers, operating hazards, factors affecting the duration of contracts including well-in-progress provisions, the actual amount of downtime, factors resulting in reduced applicable dayrates, hurricanes and other weather conditions, terrorism, political and other uncertainties inherent in non-U.S. operations (including the risk of war, civil disturbance, seizure or damage of equipment and exchange and currency fluctuations), the impact of governmental laws and regulations, the adequacy of sources of liquidity, the effect of litigation and contingencies and other factors described above and discussed in the Company’s most recently filed Form 10-K, in the Company’s Forms 10-Q for subsequent periods and in the Company’s other filings with the SEC, which are available free of charge on the SEC’s website at www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated. You should not place undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the date of the particular statement, and we undertake no obligation to publicly update or revise any forward looking statements, except as required by law.

Fleet Classification. Transocean Inc. uses a rig classification for its semisubmersible rigs and drillships to reflect the company’s strategic focus on the ownership and operation of premium, high specification floating rigs. The rig classification “High Specification Floaters” is comprised of “Ultra-Deepwater” which refers to the latest generation of semisubmersible rigs and drillships possessing the latest technical drilling capabilities and the ability to operate in water depths equal to or greater than 7,500 feet, “Deepwater” which refers to semisubmersible rigs and drillships that possess the ability to drill in water depths equal to or greater than 4,500 feet, and “Harsh Environment” comprised of five of the company’s premium harsh environment rigs, the semisubmersibles Henry Goodrich, Transocean Leader, Paul B. Loyd, Jr., Transocean Arctic and Polar Pioneer. The category titled “Midwater Floaters” represents semisubmersible rigs and drillships that possess the ability to drill in water depths of up to 4,499 feet. The jackup fleet is subdivided into two categories; “High Specification” which consists of harsh environment and high performance jackups and “Standard”.

Page 1


		Transocean Inc. (NYSE: RIG) Fleet Status Report

Updated: November 3, 2008

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «

Rig Type/Name

Floater
Type

Yr. ⁽¹⁾
Entered
Service

Water
Depth
(Feet)

Drilling
Depth
(Feet)

Location

Client

Current
Contract
Start/Idle

Date

Estimated
Expiration

/Out of

Service ⁽²⁾

Current
Contract
Dayrate ⁽³⁾
(Dollars)

Previous
Contract
Dayrate ⁽³⁾
(Dollars)

Rigs Under Construction (10)

Discoverer Clear Leader⁽¹⁶⁾

ship

TBA

12,000

40,000

USGOM

Chevron

See Footnote 4

N/A

Discoverer Americas⁽¹⁶⁾

ship

TBA

12,000

40,000

USGOM

StatoilHydro

See Footnote 5

475,000

N/A

Discoverer Inspiration⁽¹⁶⁾

ship

TBA

12,000

40,000

USGOM

Chevron

See Footnote 6

472,000

N/A

HHI Drillship TBN ⁽¹⁶⁾

ship

TBA

12,000

40,000

TBA

ExxonMobil

See Footnote 7

N/A

Dhirubhai Deepwater KG1

ship

TBA

12,000

35,000

India

Reliance

See Footnote 8

N/A

Dhirubhai Deepwater KG2

ship

TBA

10,000

35,000

India

Reliance

See Footnote 9

N/A

Enhanced Enterprise-Class Drillship No. 5

ship

TBA

10,000

35,000

India

Reliance

See Footnote 10

N/A

Petrobras 10000 ^(16),(31)

ship

TBA

10,000

37,500

TBA

Petrobras

See Footnote 31

N/A

Discoverer Luanda ⁽¹⁶⁾

ship

TBA

7,500

40,000

Angola

See Footnote 11

N/A

GSF Development Driller III ⁽¹⁶⁾

semi

TBA

7,500

30,000

Angola

See Footnote 12

382,000

N/A

High Specification Floaters:

Ultra-Deepwater (18)

Discoverer Deep Seas⁽¹⁶⁾

ship

2001

10,000

35,000

USGOM

Chevron

Jan-08

Feb-09

335,000

294,000

USGOM

Chevron

Mar-09

Mar-11

499,000

335,000

Discoverer Enterprise⁽¹⁶⁾

ship

1999

10,000

35,000

USGOM

Dec-07

Dec-10

520,000

191,000

Mar-09

75 days Shipyard
or Project

Discoverer Spirit⁽¹⁶⁾

ship

2000

10,000

35,000

USGOM

Anadarko

Dec-07

Dec-10

500,000

298,000

USGOM

Anadarko

Dec-10

Dec-13

520,000

500,000

GSF C.R. Luigs⁽¹⁶⁾

ship

2000

10,000

35,000

USGOM

BHP Billiton

Sep-07

Sep-09

393,000

225,000

USGOM

BHP Billiton

Sep-09

Nov-13

510,000

393,000

GSF Jack Ryan ⁽¹⁶⁾

ship

2000

10,000

35,000

Nigeria

Total

Jun-07

Jun-09

297,000

270,000

Nigeria

Total

Jun-09

Jul-13

425,000

297,000

Sep-09

15 days Shipyard
or Project

Deepwater Discovery

ship

2000

10,000

30,000

Ghana

Devon

Aug-08

Jan-09

425,000

⁽¹⁶⁾

368,000

Brazil

Devon

Jan-09

Jan-14

416,000

^(15),(16)

425,000

⁽¹⁵⁾

Deepwater Frontier

ship

1999

10,000

30,000

India

Reliance

Aug-08

Sep-11

477,000

320,000

Apr-09

21 days Shipyard
or Project

Deepwater Millennium^(15), (16)

ship

1999

10,000

30,000

Brazil

Anadarko

May-08

Aug-10

493,000

302,000

Jun-09

75 days Shipyard
or Project

Brazil

Anadarko

Aug-10

Aug-13

535,000

493,000

Deepwater Pathfinder

ship

1998

10,000

30,000

Nigeria

Shell/Chevron/
Agip/Petrobras

Jul-07

Jul-09

395,000

⁽¹⁵⁾

190,000

TBN

Aug-09

Dec-09

600,000

395,000

⁽¹⁵⁾

Ivory
Coast

Lukoil

Dec-09

Jan-10

630,000

600,000

USGOM

Eni

Mar-10

Mar-15

650,000

630,000

Deepwater Horizon ⁽¹⁶⁾

semi

2001

10,000

30,000

USGOM

Oct-07

Oct-10

See Footnote 13

278,000

Mar-09

14 days Shipyard
or Project

Deepwater Expedition⁽¹⁶⁾

ship

1999

10,000

30,000

India

Reliance

Jul-08

Oct-10

375,000

320,000

Malaysia

Petronas/BHP

Nov-10

Nov-13

640,000

375,000

Cajun Express⁽¹⁶⁾

semi

2001

8,500

25,000

USGOM

Chevron

Aug-07

Jan-10

478,000

216,000

Deepwater Nautilus⁽¹⁶⁾

semi

2000

8,000

30,000

USGOM

Shell

Dec-06

Dec-08

449,000

220,000

USGOM

Shell

Dec-08

Jan-12

535,000

449,000

Jan-09

14 days Shipyard
or Project

GSF Explorer

ship

1972/1998

7,800

30,000

Angola

Jun-07

Apr-09

427,000

⁽¹⁶⁾

365,000

Angola

Apr-09

Oct-09

450,000

⁽¹⁶⁾

427,000

⁽¹⁶⁾

Oct-09

100 days Mob/
Contract Prep

Indonesia

Marathon-led
Consortium

Jan-10

Jan-12

510,000

450,000

GSF Development Driller I ⁽¹⁶⁾

semi

2004

7,500

37,500

USGOM

BHP Billiton

Jun-08

Aug-12

510,000

220,000

GSF Development Driller II ⁽¹⁶⁾

semi

2004

7,500

37,500

USGOM

Nov-07

Nov-08

208,000

198,000

USGOM

Nov-08

Jan-14

580,000

208,000

Jun-09

30 days Shipyard
or Project

Sedco Energy^{(15) (16)}

semi

2001

7,500

30,000

Nigeria

Chevron

Jan-08

Mar-11

482,000

202,000

Sedco Express ^{(14) (16)}

semi

2001

7,500

30,000

Angola

Jun-05

Aug-10

183,000

125,000

Oct-09

50 days Shipyard
or Project

Deepwater (16)

Deepwater Navigator

ship

2000

7,200

25,000

Brazil

Petrobras

Mar-07

Apr-11

190,000

300,000

Brazil

Petrobras

Apr-11

Apr-16

382,000

190,000

Discoverer 534

ship

1975/1991

7,000

25,000

India

Reliance

Dec-07

Jul-10

250,000

245,000

Discoverer Seven Seas

ship

1976/1997

7,000

25,000

India

ONGC

Jul-08

Aug-11

316,000

292,000

Transocean Marianas⁽¹⁶⁾

semi

1979/1998

7,000

25,000

USGOM

Dec-07

Jan-10

446,000

528,000

Page 2


		Transocean Inc. (NYSE: RIG) Fleet Status Report

Updated: November 3, 2008

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «

Rig Type/Name

Floater
Type

Yr. ⁽¹⁾
Entered
Service

Water
Depth
(Feet)

Drilling
Depth
(Feet)

Location

Client

Current
Contract
Start/Idle

Date

Estimated

Expiration

/Out of

Service ⁽²⁾

Current
Contract
Dayrate ⁽³⁾
(Dollars)

Previous
Contract
Dayrate ⁽³⁾
(Dollars)

USGOM

Eni

Jan-10

Mar-12

565,000

446,000

Sedco 706 (to be upgraded) ⁽¹⁵⁾

semi

1976/1994/
2008

6,500

25,000

Nov-07

430 days Shipyard
or Project

Dec-08

80 days Mob/
Contract Prep

Brazil

Chevron

Mar-09

Apr-14

302,000

N/A

Sedco 702 ^{(15), (16)}

semi

1973/2007

6,500

25,000

Nigeria

Shell

Mar-08

Mar-11

350,000

N/A

Sedco 707 ⁽¹⁵⁾

semi

1976/1997

6,500

25,000

Brazil

Petrobras

Dec-05

Dec-09

190,000

N/A

Brazil

Petrobras

Dec-09

Dec-14

401,000

190,000

GSF Celtic Sea⁽¹⁶⁾

semi

1982/1998

5,750

25,000

Jun-08

135 days Shipyard
or Project

Nov-08

60 days Mob/
Contract Prep

Brazil

British Gas

Jan-09

Jan-11

446,000

⁽¹⁵⁾

342,000

Jack Bates

semi

1986/1997

5,400

30,000

Oct-08

21 days Mob/
Contract Prep

Indonesia

Eni

Nov-08

Apr-09

530,000

362,000

Apr-09

15 days Mob/
Contract Prep

Australia

Hess

May-09

Jul-10

362,000

⁽²⁵⁾

530,000

Sedco 709 ⁽¹⁵⁾

semi

1977/1999

5,000

25,000

Nigeria

Shell

Oct-06

Oct-09

205,000

175,000

M.G. Hulme, Jr.

semi

1983/1996

5,000

25,000

Nigeria

Eni

Sep-08

Jan-10

430,000

⁽¹⁵⁾

430,000

Libya

Gazprom

Jul-10

Jun-11

495,000

^(16),(36)

430,000

Transocean Richardson ^{(14), (16)}

semi

1988

5,000

25,000

Angola

Chevron

Aug-07

Jul-10

456,000

300,000

Aug-08

95 days Shipyard
or Project

Jim Cunningham ^{(16), (32)}

semi

1982/1995

4,600

25,000

Angola

ExxonMobil

Oct-08

May-09

372,000

364,000

Angola

ExxonMobil

May-09

Dec-10

475,000

372,000

Sedco 710 ^{(14) (15)}

semi

1983/2001

4,500

25,000

Brazil

Petrobras

Oct-06

Nov-08

121,000

190,000

Dec-08

Nov-10

156,000

121,000

Brazil

Petrobras

Dec-10

Nov-16

290,000

121,000

Transocean Rather ^{(15), (16)}

semi

1988

4,500

25,000

UKNS

Oct-07

Dec-08

240,000

304,000

Sep-09

30 days Shipyard
or Project

UKNS

Dec-08

Sep-09

436,000

240,000

UKNS

Dong E&P

Oct-09

Nov-09

515,000

436,000

Sovereign Explorer⁽¹⁶⁾

semi

1984

4,500

25,000

Brazil

Repsol

Jul-08

May-10

363,000

⁽¹⁵⁾

380,000

Harsh Environment (5)

Henry Goodrich ⁽¹⁶⁾

semi

1985/2007

5,000

30,000

USGOM

StatoilHydro

Jun-07

Jul-10

358,000

173,000

Nov-09

21 days Shipyard
or Project

Transocean Leader ^{(15), (16)}

semi

1987/1997

4,500

25,000

NNS

StatoilHydro

Nov-08

Aug-09

373,000

340,000

NNS

StatoilHydro

Nov-09

Jan-12

433,000

⁽¹⁷⁾

373,000

Paul B. Loyd, Jr. ^{(15), (16)}

semi

1990

2,000

25,000

UKNS

Mar-07

May-09

316,000

145,000

UKNS

May-09

Jul-12

480,000

326,000

Transocean Arctic ^{(15), (16)}

semi

1986

1,650

25,000

NNS

StatoilHydro

Jan-07

Aug-11

264,000

195,000

Aug-09

70 days Shipyard
or Project

Polar Pioneer ^{(15), (16)}

semi

1985

1,500

25,000

NNS

StatoilHydro

Aug-06

Feb-10

284,000

181,000

May-09

55 days Shipyard
or Project

NNS

StatoilHydro

Feb-10

Feb-14

470,000

284,000

Midwater Floaters (29)

Sedco 700 ⁽³⁵⁾

semi

1973/1997

3,600

25,000

Congo

Total

Aug-08

Nov-08

421,000

410,000

Nigeria

Total

Nov-08

Aug-09

410,000

421,000

Transocean Legend

semi

1983

3,500

25,000

Myanmar

Daewoo

Sep-08

Jan-09

424,000

443,000

Jan-09

30 days Shipyard
or Project

Phillipines

Burgundy Oil

Jan-09

Jun-09

550,000

424,000

Jun-09

15 days Mob /
Contract Prep.

Australia

Nexus

Jul-09

Nov-09

450,000

550,000

Australia

Oilex

Nov-09

Dec-09

495,000

450,000

Aus./E. Timor

Nexus/Oilex

Dec-09

May-10

450,000

495,000

Transocean Amirante⁽¹⁶⁾

semi

1978/1997

3,500

25,000

USGOM

Eni

Jul-08

May-11

356,000

325,000

GSF Arctic I ^{(15), (16)}

semi

1983/1996

3,400

25,000

Brazil

Shell

Mar-08

Dec-10

264,000

265,000

C. Kirk Rhein, Jr.

semi

1976/1997

3,300

25,000

Mozambique

Sasol

Sep-08

Nov-08

362,000

190,000

Transocean Driller ^{(14), (15)}

semi

1991

3,000

25,000

Brazil

Petrobras

Aug-06

Aug-10

112,000

53,000

Apr-09

120 days Shipyard
or Project

Brazil

Petrobras

Aug-10

Oct-16

270,000

112,000

GSF Rig 135 ⁽¹⁶⁾

semi

1983

2,400

25,000

Congo

Total

Oct-07

Dec-09

325,000

Congo

Total

Feb-10

Jun-10

380,000

325,000

GSF Rig 140 ⁽¹⁶⁾

semi

1983

2,400

25,000

Angola

ExxonMobil

Oct-07

Dec-08

256,000

⁽²²⁾

309,000

Page 3


		Transocean Inc. (NYSE: RIG) Fleet Status Report

Updated: November 3, 2008

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «

Rig Type/Name

Floater
Type

Yr. ⁽¹⁾
Entered
Service

Water
Depth
(Feet)

Drilling
Depth
(Feet)

Location

Client

Current
Contract
Start/Idle

Date

Estimated

Expiration

/Out of

Service ⁽²⁾

Current
Contract
Dayrate ⁽³⁾
(Dollars)

Previous
Contract
Dayrate ⁽³⁾
(Dollars)

Angola

ExxonMobil

Oct-08

Jun-09

311,000

256,000

Falcon 100^{(14), (15)}

semi

1974/1999

2,400

25,000

Brazil

Petrobras

Mar-08

Apr-13

221,000

180,000

GSF Aleutian Key ⁽¹⁶⁾

semi

1976/2001

2,300

25,000

Angola

Sonangol

Nov-07

Jul-09

357,000

145,000

Congo

Premier

Jul-09

Aug-09

495,000

357,000

Istiglal^{(16) (21)}

semi

1995/1998

2,300

20,000

Caspian

Jun-08

Apr-09

112,000

113,000

Sedco 703

semi

1973/1995

2,000

25,000

Australia

Woodside

Aug-07

Dec-08

450,000

400,000

Nov-08

21 days Shipyard
or Project

Australia

ConocoPhillips

Jan-09

Aug-09

450,000

435,000

Sedco 711

semi

1982

1,800

25,000

UKNS

Shell

Nov-07

Dec-08

283,000

150,000

UKNS

Shell

Dec-08

Feb-11

385,000

283,000

Transocean John Shaw

semi

1982

1,800

25,000

UKNS

Petrofac

Aug-08

Sep-09

352,000

380,000

GSF Arctic III

semi

1984

1,800

25,000

Libya

Eni

Sep-08

Sep-09

453,000

⁽³⁶⁾

350,000

Sedco 712

semi

1983

1,600

25,000

UKNS

Oilexco

Mar-08

May-10

340,000

235,000

Sedco 714 ^{(15), (16)}

semi

1983/1997

1,600

25,000

UKNS

Total

Oct-08

Nov-08

259,000

357,000

UKNS

Total

Nov-08

Jan-09

340,000

259,000

UKNS

Total

Feb-09

May-09

240,000

340,000

May-09

65 days Mob/
Contract Prep

UKNS

Total

Jul-09

Oct-09

190,000

240,000

UKNS

Total

Oct-09

Oct-10

405,000

257,000

GSF Arctic IV ^{(16), (24)}

semi

1983/1999

1,500

25,000

UKNS

Shell

Sep-07

Sep-10

275,000

185,000

GSF Grand Banks ⁽¹⁶⁾

semi

1984

1,500

25,000

East
Canada

Husky

Jan-08

Feb-11

353,000

144,000

Jun-09

150 days Shipyard
or Project

Actinia

semi

1982

1,500

25,000

India

Reliance

Sep-06

Jul-09

190,000

54,000

Sedco 601 ⁽¹⁶⁾

semi

1983

1,500

25,000

Malaysia

Petronas
Carigali

Jan-08

Feb-11

255,000

268,000

May-09

21 days Shipyard
or Project

Sedneth 701

semi

1972/1993

1,500

25,000

Angola

Chevron

Jun-07

Jun-10

364,000

90,000

Jun-09

60 days Shipyard
or Project

Transocean Winner ^{(15), (16)}

semi

1983

1,500

25,000

NNS

StatoilHydro

Aug-06

Oct-09

364,000

120,000

NNS

Lundin

Oct-09

Dec-12

424,000

364,000

Transocean Searcher ^{(15), (16)}

semi

1983/1988

1,500

25,000

NNS

StatoilHydro

Oct-06

Oct-08

365,000

138,000

NNS

StatoilHydro

Oct-08

Oct-11

418,000

365,000

Transocean Prospect

semi

1983/1992

1,500

25,000

UKNS

Nexen

Nov-08

Feb-11

370,000

207,000

Dada Gorgud ^{(16), (21)}

semi

1978/1998

1,500

25,000

Caspian

Jan-08

Dec-08

107,000

90,000

J.W. McLean

semi

1974/1996

1,250

25,000

UKNS

ConocoPhillips

Aug-08

Mar-09

400,000

250,000

Mar-09

30 days Mob/
Contract Prep

UKNS

Petro-Canada

Mar-09

May-10

416,000

400,000

GSF Arctic II ⁽²⁴⁾

semi

1982

1,200

25,000

Ireland

Providence
Resources

Aug-08

Nov-08

406,000

425,000

Sedco 704 ^{(15), (16)}

semi

1974/1993

1,000

25,000

UKNS

ADTI

Nov-08

Jan-10

371,000

⁽²³⁾

316,000

UKNS

Shell

Feb-10

Jan-12

420,000

371,000

High Specification Jackups (10)

GSF Constellation I ⁽¹⁶⁾

2003

400

30,000

Trinidad

Aug-07

Nov-09

219,000

76,000

GSF Constellation II ⁽¹⁶⁾

2004

400

30,000

Egypt

Jun-07

Apr-10

194,000

170,000

GSF Galaxy I

1991/2001

400

30,000

UKNS

Jul-08

Nov-08

100,000

194,000

UKNS

Nov-08

May-09

115,000

100,000

UKNS

May-09

Aug-09

227,000

115,000

GSF Galaxy II

1998

400

30,000

UKNS

Centrica

Jul-08

Apr-09

223,000

300,000

GSF Galaxy III ^{(15), (16)}

1999

400

30,000

UKNS

Nexen

Oct-07

Nov-09

108,000

100,000

UKNS

Nexen

Nov-09

Dec-10

108,000

108,000

GSF Baltic ^{(15), (16)}

1983

375

25,000

Nigeria

ExxonMobil

May-07

May-09

205,000

240,000

Nigeria

ExxonMobil

May-09

May-10

240,000

205,000

GSF Magellan ⁽¹⁶⁾

1992

350

30,000

UKNS

Shell

Sep-07

Apr-09

300,000

145,000

UKNS

Shell

May-09

Oct-09

145,000

300,000

Dec-08

45 days Shipyard
or Project

GSF Monarch

1986

350

30,000

UKNS

Shell

Dec-07

May-09

78,000

70,000

GSF Monitor ⁽¹⁶⁾

1989

350

30,000

Trinidad

Apr-07

Apr-09

151,000

70,000

Apr-09

40 days Shipyard
or Project

Trident 20

2000

350

25,000

Caspian

Petronas
Carigali

Jan-06

Jan-10

130,000

90,000

Nov-08

14 days Shipyard
or Project

Jun-09

21 days Shipyard
or Project

Standard Jackups (55)

Trident IX

1982

400

20,000

Sep-08

110 days Shipyard
or Project

Trident 17 ⁽¹⁶⁾

1983

355

25,000

Malaysia

Petronas
Carigali

Sep-07

May-10

185,000

195,000

Page 4


		Transocean Inc. (NYSE: RIG) Fleet Status Report

Updated: November 3, 2008

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «


Rig Type/Name	Floater Type	Yr. ⁽¹⁾ Entered Service	Water Depth (Feet)	Drilling Depth (Feet)	Location	Client	Current Contract Start/Idle Date	Estimated Expiration /Out of Service ⁽²⁾	Current Contract Dayrate ⁽³⁾ (Dollars)		Previous Contract Dayrate ⁽³⁾ (Dollars)
							May-09	14 days Shipyard or Project
GSF Adriatic II ⁽¹⁶⁾		1981	350	25,000	Angola	Chevron	May-07	May-09	192,000		55,000
GSF Adriatic IX ⁽¹⁶⁾		1981	350	25,000	Gabon	Total	Jul-08	Jul-09	188,000		155,000
GSF Adriatic X ⁽³⁰⁾		1982	350	30,000	Egypt	Petrobel	Nov-06	Nov-08	150,000		63,000
							Nov-08	14 days Shipyard or Project
					Egypt	Petrobel	Nov-08	Nov-10	182,000		150,000
GSF Key Manhattan ⁽²⁸⁾		1980	350	25,000	Egypt	Petrobel	Aug-08	Aug-09	172,000		152,000
GSF Key Singapore ⁽²⁹⁾		1982	350	25,000	Egypt	Petrobel	Sep-08	May-10	172,000		155,000
							Nov-08	45 days Shipyard or Project
GSF Adriatic VI		1981	328	25,000	Nigeria	Afren	Jan-08	Oct-08	210,000	⁽¹⁶⁾	195,000
					Gabon	Vaalco	Oct-08	Jan-09	218,000		210,000
					Gabon	Forest Oil	Jan-09	Mar-09	225,000		218,000
					Eq. Guin.	Noble Energy	Apr-09	May-09	244,000		225,000
GSF Adriatic VIII ^{(15), (16)}		1983	328	25,000	Nigeria	ExxonMobil	Mar-07	Mar-09	187,000		145,000
							Nov-09	20 days Shipyard or Project
					Nigeria	ExxonMobil	Apr-09	Mar-10	220,000		145,000
C.E. Thornton ⁽¹⁵⁾		1974	300	25,000	India	ONGC	Oct-08	Nov-11	119,000		45,000
							Sep-09	14 days Shipyard or Project
D.R. Stewart		1980	300	25,000	Italy	Eni	Apr-07	Apr-10	168,000		57,000
							Jun-09	20 days Shipyard or Project
F.G. McClintock		1975	300	25,000	India	ONGC	Oct-08	Nov-11	145,000		50,000
							Nov-09	14 days Shipyard or Project
G.H. Galloway		1984	300	25,000	Italy	Eni	Aug-08	Sep-09	170,000		115,000
GSF Adriatic I ⁽¹⁶⁾		1981	300	25,000	Angola	Chevron	Apr-07	Apr-09	192,000		110,000
GSF Adriatic V ⁽¹⁶⁾		1979	300	25,000	Angola	Chevron	Mar-07	Mar-09	193,000		55,000
GSF Adriatic XI		1983	300	25,000	Indonesia	Total	Sep-08	May-09	196,000		221,000
GSF Compact Driller⁽¹⁶⁾		1992	300	25,000	Thailand	Chevron	Oct-07	May-09	196,000		186,000
GSF Galveston Key		1978	300	25,000	Vietnam	Cuu Long JOC	Sep-08	Mar-09	192,000		187,000
					Vietnam	Cuu Long JOC	Mar-09	Sep-09	197,000		192,000
					Vietnam	Cuu Long JOC	Sep-09	Mar-10	202,000		197,000
GSF Key Gibraltar		1976/1996	300	25,000	Thailand	PTTEP	Oct-07	Oct-08	192,000		192,000
					Thailand	PTTEP	Oct-08	Jan-09	229,000		192,000
GSF Key Hawaii ⁽¹⁶⁾		1982	300	25,000	Qatar	Maersk	Jul-07	Jul-09	175,000		195,000
GSF Labrador ^{(15), (16)}		1983	300	25,000	UKNS	E.On	Jun-08	Dec-08	205,000		227,000
					UKNS	ADTI	Dec-08	Jan-08	210,000		205,000
					UKNS	E.On	Dec-08	Oct-09	205,000		210,000
					UKNS	Dana	Oct-09	Dec-09	220,000		210,000
GSF Main Pass I		1982	300	25,000	Saudi Arabia	Saudi Aramco	Jul-07	Jul-11	164,000		100,000
GSF Main Pass IV		1982	300	25,000	Saudi Arabia	Saudi Aramco	Aug-07	Jul-11	164,000		100,000
GSF Parameswara ⁽¹⁶⁾		1983	300	20,000	Indonesia		Sep-08	60 days Shipyard or Project
					Indonesia	Total	Aug-08	Feb-09	106,000		102,000
					Indonesia	Total	Mar-09	Mar-11	168,000		106,000
GSF Rig 134		1982	300	20,000	Malaysia	Petronas Carigali	Apr-07	May-10	166,000		128,000
GSF Rig 136		1982	300	20,000	Malaysia	Petronas Carigali	Jun-08	Jun-09	175,000		185,000
Harvey H. Ward		1981	300	25,000	Malaysia	Talisman	Sep-08	185 days Shipyard or Project
					Malaysia	Talisman	Apr-09	Oct-10	150,000		110,000
Interocean III ⁽³³⁾		1978/1993	300	25,000	Egypt	Agiba	Jul-07	Jan-09	117,000		65,000
					Egypt	Zeitco-East Zeit	Jan-09	Jun-09	118,000		117,000
J.T. Angel		1982	300	25,000	India	ONGC	Mar-07	May-10	148,000		105,000
Randolph Yost		1979	300	25,000	India	ONGC	Mar-07	Mar-10	148,000		61,000
Roger W. Mowell		1982	300	25,000	Malaysia	Talisman	Nov-06	Mar-09	110,000		48,000
							Nov-08	14 days Shipyard or Project
Ron Tappmeyer		1978	300	25,000	India	ONGC	Feb-07	Mar-10	148,000		62,000
							Jan-09	14 days Shipyard or Project
Shelf Explorer		1982	300	20,000	Malaysia	Talisman	Nov-08	May-10	150,000		184,000
Transocean Nordic ⁽³⁴⁾		1984	300	25,000	Sakhalin Island	Venineft	May-08	Oct-08	185,000		74,000
Trident 15		1982	300	25,000	Thailand	Chevron	Feb-06	Mar-12	100,000	⁽¹⁸⁾	60,000
Trident 16 ⁽¹⁶⁾		1982	300	25,000	Vietnam	Petronas Carigali	Feb-08	Feb-10	189,000		195,000
					Malaysia	Petronas Carigali	Mar-10	Aug-11	180,000		189,000
Trident II		1977/1985	300	25,000	India	ONGC	Apr-07	Jun-10	148,000		60,000
							Apr-09	14 days Shipyard or Project
Trident IV		1980/1999	300	25,000	Nigeria	Afren	Oct-08	Jan-09	170,000		224,000
Trident VIII		1981	300	21,000	Nigeria	Total	Aug-08	Nov-08	198,000		66,000
Trident XII		1982/1992	300	25,000	India	ONGC	Jan-07	Feb-10	148,000		62,000
							Jan-09	14 days Shipyard or Project
Trident XIV		1982/1994	300	20,000	Angola	Chevron	Jun-06	Jun-09	98,000		61,000

Page 5


		Transocean Inc. (NYSE: RIG) Fleet Status Report

Updated: November 3, 2008

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «

Rig Type/Name

Floater
Type

Yr. ⁽¹⁾
Entered
Service

Water
Depth
(Feet)

Drilling
Depth
(Feet)

Location

Client

Current
Contract
Start/Idle

Date

Estimated

Expiration

/Out of

Service ⁽²⁾

Current
Contract
Dayrate ⁽³⁾
(Dollars)

Previous
Contract
Dayrate ⁽³⁾
(Dollars)

Jul-09

20 days Shipyard

or Project

Angola

Chevron

May-09

May-10

195,000

98,000

GSF High Island II

1979

270

20,000

Saudi
Arabia

Saudi Aramco

Jul-07

Jul-11

164,000

100,000

GSF High Island IV

1980/2001

270

20,000

Saudi
Arabia

Saudi Aramco

May-07

May-11

164,000

107,000

GSF High Island V⁽¹⁶⁾

1981

270

20,000

Congo

ENI

Oct-08

Mar-09

175,000

GSF High Island IX ^(15), (16)

1983

250

20,000

Nigeria

Addax
Petroleum

Jun-07

Aug-09

150,000

145,000

GSF High Island VII ⁽³⁷⁾

1982

250

20,000

Cameroon

Total

Feb-07

Dec-08

160,000

98,000

Cameroon

Total

Jan-09

Dec-09

170,000

⁽¹⁶⁾

160,000

GSF Rig 103

1974

250

20,000

Egypt

Petrobel

Oct-08

Dec-08

107,000

GSF Rig 105

1975

250

20,000

Egypt

Petrobel

Mar-08

Mar-11

112,000

90,000

GSF Rig 124

1980

250

20,000

Egypt

AMAPETCO

Apr-07

Nov-08

110,000

55,000

Egypt

PetroSA

Nov-08

Sep-09

120,000

55,000

GSF Rig 127 ⁽¹⁶⁾

1981

250

20,000

Qatar

Maersk

Jun-07

Jun-09

145,000

120,000

GSF Rig 141

1982

250

20,000

Egypt

Petrogulf

Nov-07

Nov-08

115,000

Egypt

Petrogulf

Nov-08

Nov-09

120,000

115,000

Transocean Comet

1980

250

20,000

Egypt

GUPCO

Oct-07

Oct-09

112,000

62,000

Transocean Mercury

1969/1998

250

20,000

Egypt

Petrobel

Feb-08

Jan-10

110,000

58,000

Feb-09

45 days Shipyard
or Project

Trident VI

1981

220

21,000

Vietnam

Vietsovpetro

Apr-07

Dec-08

193,000

142,000

GSF Britannia

1968

200

20,000

NLD

NAM

Aug-07

Oct-08

61,000

55,000

NLD

NAM

Nov-08

Dec-08

110,000

61,000

UKNS

Shell

Dec-08

Jun-09

110,000

Swamp Barges ⁽²⁾

Searex 4

1981/1989

25,000

Indonesia

Total

Sep-04

Sep-09

34,000

N/A

Hibiscus ^(16), (19)

1979/1993

16,000

Indonesia

Total

Oct-07

Sep-12

72,000

74,000

Jan-09

75 days Shipyard
or Project

Others ⁽²⁾

Joides Resolution^{(16), (20)}

ship

1978

27,000

30,000

Singapore

Oct-06

730 days Shipyard
or Project

Worldwide

TAMRF

Nov-08

Sep-13

66,000

35,000

Sedco 135D ⁽¹⁵⁾

1966/1977/
2001

600

Brazil

SLB

Jun-01

Jun-09

37,000

N/A

Fixed-Price Options

High Specification Floaters:

Ultra-Deepwater

GSF Explorer

ship

1972/1998

7,800

30,000

Indonesia

Marathon-led
Consortium

Jan-12

Jan-13

510,000

Deepwater

Discoverer 534

ship

1975/1991

7,000

25,000

India

Reliance

Jul-10

Jan-11

250,000

Harsh Environment

Transocean Arctic

semi

1986

1,650

25,000

NNS

StatoilHydro

Aug-11

Feb-12

450,000

291,000

Midwater Floaters

Transocean Legend

semi

1983

3,500

25,000

Australia

Nexus

May-10

Sep-10

450,000

East
Timor

Oilex

Sep-10

Dec-10

495,000

450,000

Sedco 703 ^{(15), (16)}

semi

1973/1995

2,000

25,000

Australia

ConocoPhillips

Aug-09

Sep-09

450,000

GSF Arctic III

semi

1984

1,800

25,000

Libya

Eni

Oct-09

Oct-10

453,000

Libya

Eni

Nov-10

Nov-11

453,000

Sedco 714 ^{(15), (16)}

semi

1983/1997

1,600

25,000

UKNS

Total

Nov-10

Dec-11

375,000

257,000

Transocean Searcher ^{(15), (16)}

semi

1983/1988

1,500

25,000

NNS

StatoilHydro

Oct-11

Apr-12

390,000

GSF Arctic II ⁽²⁴⁾

semi

1982

1,200

25,000

Ireland

Providence
Resources

Nov-08

Dec-08

400,000

Standard Jackups

GSF Adriatic IX ⁽¹⁶⁾

1981

350

25,000

Gabon

Total

Jul-09

Jan-10

188,000

GSF Key Manhattan ⁽²⁸⁾

1980

350

25,000

Egypt

Petrobel

Aug-09

Jul-10

172,000

GSF Parameswara

1983

300

20,000

Indonesia

Total

Mar-11

Feb-13

168,000

Interocean III ⁽³³⁾

1978/1993

300

25,000

Egypt

Zeitco-East Zeit

Jul-09

Dec-09

120,000

122,000

GSF Adriatic XI

1983

300

25,000

Indonesia

Total

May-09

Jul-09

196,000

GSF High Island V

1981

270

20,000

Congo

ENI

Mar-09

Jun-09

175,000

GSF Rig 124

1980

250

20,000

Egypt

PetroSA

Feb-09

Apr-10

120,000

Others

Joides Resolution^{(16) (20)}

ship

1978

27,000

30,000

Worldwide

TAMRF

Oct-13

Sep-23

64,500

Additional 2009 Estimated Potential Out of Service Time By Rig Class

Page 6


		Transocean Inc. (NYSE: RIG) Fleet Status Report

Updated: November 4, 2008

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «

See “Out of Service Days (Shipyards, Mobilizations, etc.)” on the cover page for a full description.


Rig Class	Firm Reported Out-of-Service Days	Other Estimated Out-of-Service Days	Total
Ultra-Deepwater	405	37	442
Other Deepwater	85	58	143
Other High Spec	78	100	178
Other Floater	526	329	855
High Spec Jackup	55	253	308
Jackup	280	453	733
Other	60	26	86

Total	1,489	1,256	2,745
Footnotes:

⁽¹⁾ Dates shown are the original service date and the date of the most recent upgrade, if any.

⁽²⁾ Expiration dates represent the company’s current estimate of the earliest date the contract for each rig is likely to expire. Some rigs have two or more contracts in continuation, so the last line shows the estimated earliest availability. Many contracts permit the client to extend the contract. The out of service time represents those days in 2008 where the company anticipates that a rig will be out of service and not be available to earn an operating dayrate for a period of 14 days or longer. Please refer to the “Out of Service Days (Shipyards, Mobilizations, Etc.)” section of the Cover Page for a full description.

⁽³⁾ Represents the full operating dayrate, although the average dayrate over the term of the contract will be lower and could be substantially lower. Does not reflect incentive programs which are typically based on the rig’s operating performance against a performance curve. Please refer to the “Client Contract Duration and Dayrates and Risks Associated with Operations” section of the Cover Page for a description of dayrates.

⁽⁴⁾ We have been awarded a five-year drilling contract by Chevron for the construction of an enhanced Enterprise-class drillship to be named Discoverer Clear Leader. Operations are expected to commence during the second quarter of 2009, after shipyard construction followed by sea trials, mobilization to the U.S. Gulf of Mexico and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. During the first three years of the contract, the contract dayrate is $469,000. The dayrate for the last two years of the contract is linked to the standard West Texas Intermediate crude oil price with a floor of $40 per barrel resulting in a contract dayrate of $400,000 and a ceiling of $70 per barrel resulting in a contract dayrate of $500,000.

⁽⁵⁾ We have been awarded a four-year drilling contract by StatoilHydro for the construction of an enhanced Enterprise-class drillship to be named Discoverer Americas. Operations are expected to commence by mid-2009, after shipyard construction followed by sea trials, mobilization to the U.S. Gulf of Mexico and customer acceptance. The contract commencement date is contingent on vendor performance and other factors.

⁽⁶⁾ We have been awarded a five-year contract by Chevron for the construction of an enhanced Enterprise-class drillship to be named Discoverer Inspiration. Operations are expected to commence during the first quarter of 2010, after shipyard construction followed by sea trials, mobilization to the U.S. Gulf of Mexico and customer acceptance. The contract commencement date is contingent on vendor performance and other factors.

⁽⁷⁾ We have been awarded a five-year contract by Exxon Mobil for the Gusto MSC/P 10,000 design drillship which is yet to be named. Operations are expected to commence during the fourth quarter of 2010, after shipyard construction followed by sea trials, mobilization to the U.S. Gulf of Mexico and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. Depending on the countries of operation during the term of the contract, the dayrate could range from $640,000 to $650,000.

⁽⁸⁾ We own a 50 percent interest in this ultra-deepwater Samsung-design drillship to be named Dhirubhai Deepwater KG1 (formerly Deepwater Pacific 1) through a joint venture company with Pacific Drilling Limited. The joint venture has been awarded a five-year drilling contract with Reliance for construction of the drillship. Operations are expected to commence during the third quarter of 2009, after shipyard construction followed by sea trials, mobilization to India and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. During the first six months of the contract, the contract dayrate is $495,000. The dayrate for the remaining four and one-half years of the contract is $510,000.

⁽⁹⁾ We own a 50 percent interest in this ultra-deepwater Samsung-design drillship to be named Dhirubhai Deepwater KG2 (formerly Deepwater Pacific 2) through a joint venture company with Pacific Drilling Limited. The joint venture has been awarded a five-year drilling contract with Reliance for construction of the drillship. Operations are expected to commence during the second quarter of 2010, after shipyard construction followed by sea trials, mobilization to India and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. During the first six months of the contract, the contract dayrate is $495,000. The dayrate for the remaining four and one-half years of the contract is $510,000.

⁽¹⁰⁾ We have been awarded a five-year drilling contract by Reliance for the construction of an enhanced Enterprise-class drillship yet to be named. Operations are expected to commence during the fourth quarter of 2010, after shipyard construction followed by sea trials, mobilization to India and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. The term of the drilling contract may be extended to seven or 10 years at the client’s election up to one week after mobilization. During the first six months of the contract, the contract dayrate is $537,000. The dayrate over the remaining four and one-half years of the initial five-year term is $557,000. If the client elects to extend the contract to 10 years, then the client may further elect to have the operating dayrate for the second five years of the contract fluctuate based on crude oil prices. In such case, the operating dayrate for the second five years (i) will not be adjusted if crude oil is at $75 per barrel, (ii) will be adjusted upward on a straightline basis if crude oil is between $75 per barrel and $100 per barrel, with a maximum positive adjustment of approximately 10% if crude oil is at or above $100 per barrel, and (iii) will be adjusted downward on a straightline basis if crude oil is between $75 per barrel and $50 per barrel, with a maximum negative adjustment of approximately 10% if crude oil is at or below $50 per barrel. The client retains the right to terminate the contract for convenience. If the client (i) elects to stay with a five-year term, (ii) elects to extend the contract to seven years, or (iii) elects to extend the contract to 10 years and allow operating dayrates to fluctuate with oil prices, then the termination mechanism in the contract is designed to keep Transocean economically whole for the remaining term of the contract. However, if the client elects to extend the contract to 10 years and the dayrate is fixed, then the client will have a right to terminate the contract for convenience with one year’s prior notice which will result in total payments to Transocean ranging from $1.1 billion over a five-year period to $1.85 billion over a 10-year period (which includes paid and unpaid dayrate as well as a termination fee ranging from $100 million to $175 million), and, depending on the date of termination, may result in a discount to the estimated contract revenues that could have otherwise been generated over the 10-year period.

Page 7


		Transocean Inc. (NYSE: RIG) Fleet Status Report

Updated: November 4, 2008

Revisions to Fleet Status Report Noted in Bold

Dynamically positioned «

⁽¹¹⁾ We have been awarded a drilling contract by BP for the construction of an enhanced Enterprise-class drillship to be named Discoverer Luanda. The rig will be owned by a joint venture in which the company owns 65 percent. The contract had an initial term of five years, but was converted at the customer’s election to a seven-year term. Operations are expected to commence during the third quarter of 2010, after shipyard construction followed by sea trials, mobilization to Angola and customer acceptance. The contract commencement date is contingent on vendor performance and other factors. The dayrate to be paid on the seven-year contract period is $430,000.

⁽¹²⁾ We have been awarded a seven-year drilling contract by BP for the construction of a Keppel Fels MSC DSS 51 design semisubmersible to be named GSF Development Driller III. Operations are expected to commence by the third quarter of 2009, after shipyard construction followed by sea trials, mobilization to Angola and customer acceptance. The contract commencement date is contingent on vendor performance and other factors.

⁽¹³⁾ Dayrate for contract period October 2007 through October 2010 to be set using a quarterly average of the stated contract dayrates on the company’s other Ultra-Deepwater, dynamically positioned rigs operating in the U.S. Gulf of Mexico. The dayrate is currently estimated to range from $458,000 beginning in March 2008 to $517,000 in October 2010.

⁽¹⁴⁾ Current contract provides for a bonus incentive opportunity not reflected in the stated current contract dayrate.

⁽¹⁵⁾ Reflects the current contracted dayrate which is comprised of a foreign currency component and which could change due to foreign exchange adjustments.

⁽¹⁶⁾ Reflects the current contracted dayrate which could change due to cost escalations.

⁽¹⁷⁾ Dayrate reflects a base level to be paid. The rig will receive a dayrate higher than the stated base level when utilized in a water depth of greater than 1,500 feet.

⁽¹⁸⁾ Dayrate subject to annual adjustment based on market dayrates within specific parameters.

⁽¹⁹⁾ Owned by a joint venture in which the company owns an 80 percent interest. Dayrate indicated reflects 100 percent of contract rate.

⁽²⁰⁾ Operated under a management contract with the rig’s owner. The rig is currently engaged in scientific geological coring activities and is owned by an unconsolidated joint venture in which a subsidiary of the company has a 50 percent interest. The dayrate disclosed herein reflects 100 percent of the contracted rate. The company’s 50 percent interest in the joint venture’s earnings is included in other income in its consolidated statement of operations.

⁽²¹⁾ Operated under a management contract with the rig’s owner.

⁽²²⁾On June 30, 2007, the riser for GSF Rig 135 was lost at sea when the transport vessel capsized. A newly manufactured riser that was to be shipped to GSF Rig 140 to replace GSF Rig 140’s existing riser was redirected to GSF Rig 135. Since we were obligated to provide a new riser for GSF Rig 140’s current contract, the dayrate for GSF Rig 140 was reduced by $55,000 per day until such time that we are able to replace the riser. We believe that the $55,000 dayrate reduction is covered under applicable insurance policies.

⁽²³⁾For the period of time that this rig is contracted to Applied Drilling Technology International, the drilling management services division of the company’s U.K. operating subsidiary, or Applied Drilling Technology Inc., the company’s U.S. drilling management services subsidiary, accounting rules require that we eliminate the revenues and costs related to those contracts from the contract drilling segment of the consolidated statement of operations.

⁽²⁴⁾ In July 2008, we entered into definitive agreements to sell the GSF Arctic II and GSF Arctic IV; however, the acquisition of these rigs is contingent upon the buyers’ ability to obtain lender consents. The buyers have reported that they have been unable to obtain the consent of their lenders on terms acceptable to them and have publicly announced their termination of the agreements to purchase the vessels. While we and the buyers are continuing to discuss alternative structures that could result in the acquisition of one or both of these rigs by the buyers, we have no assurance the buyers will eventually be able to complete the purchase of either or both rigs.

⁽²⁵⁾The tax expense related to these contracts has been reduced due to a discrete tax event in the 4th quarter of 2007. In accordance with the terms of these contracts, the dayrate likewise has been reduced from $475,000 per day to $362,000 per day. Taken together, these changes have no effect on after-tax net income.

⁽²⁷⁾The terms of this contract were renegotiated in conjunction with other business with Reliance.

⁽²⁸⁾The client has the right to extend the terms of this contract to three years at a dayrate of $159,000.

⁽²⁹⁾The client has the right to extend the terms of this contract to three years at a dayrate of $159,000.

⁽³⁰⁾The client has the right to extend the terms of this contract to three years at a dayrate of $169,000 by November 4, 2008.

⁽³¹⁾ We have been awarded a 10-year drilling contract by Petrobras to operate an unnamed fifth generation drillship under construction at Samsung Heavy Industries Co. Ltd. yard in Geoje, South Korea. We will acquire the rig from subsidiaries of Petrobras and Mitsui under a 20-year capital lease contract. Operations are expected to commence during the third quarter of 2009, after shipyard construction followed by sea trials, mobilization. The contract commencement date is contingent on vendor performance and other factors. The initial contract dayrate is $410,000 excluding taxes. In addition, we are eligible to earn monthly bonuses of up to 12 percent of dayrate.

⁽³²⁾ The client has the right to extend the term of this contract to two years at a dayrate of $460,000 or three years at a dayrate of $450,000 by November 15, 2008

⁽³³⁾ The client has the right to extend the term of this contract to 12 months at a dayrate of $120,000 by January 7, 2009

⁽³⁴⁾In May 2008, we executed an agreement to sell the rig and expect to close the sale upon completion of its current drilling operations in the fourth quarter of 2008.

⁽³⁵⁾ Total has the right to convert by November 11, 20008, the Sedco 700 contracts for operations in Congo and Nigeria to 18, 24 or 36 months. The dayrates for operations in Nigeria during the 18-month and 24-month contracts would be $395,000 or $380,000, respectively. The dayrate for the 36-month contract would be $380,000 for the first two years and $335,000 for the third year. An additional $11,000 a day applies to operations in Congo.

⁽³⁶⁾ Dayrate excludes Libyan taxes for which Transocean will be reimbursed.

⁽³⁷⁾ Total has the option to extend the contract to approximately 12 months, 18 months and 24 months at dayrates of $170,000, $164,000 or $161,000, respectively.

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TRANSOCEAN INC 8-K