Transocean Ltd. Provides Quarterly Fleet Status Report

Steinhausen, Switzerland, July 23, 2018

Transocean Ltd. (NYSE:RIG) today issued a quarterly Fleet Status Report that provides the current status of, and contract information for, the company’s fleet of offshore drilling rigs.

Since the prior Fleet Status Report, the company has added approximately $405 million in contract backlog. As of today, the company’s backlog is $11.7 billion, which includes dayrate reductions on four of the company’s newbuild drillships related to cost de-escalations attributable to down-manning.

The ultra-deepwater semisubmersible Development Driller III was awarded a 180-day contract offshore Equatorial Guinea. Following maintenance, reactivation and a contract preparation period, the floater is expected to commence operations in the first quarter of 2019.

This report also includes the following new contracts:

• Deepwater Asgard – Customer exercised a one-well option;

• GSF Development Driller I – Awarded an 11-well contract plus four one-well options offshore Australia;

• Deepwater Nautilus – Customer exercised two one-well options offshore Malaysia;

• Transocean Spitsbergen – Awarded a three-well contract plus six one-well options offshore Norway. In addition, customer exercised two one-well options;

• Transocean Barents – Awarded a six-month contract extension plus an option offshore Eastern Canada;

• Transocean Leader – Awarded a one-well contract in the U.K. North Sea;

• Transocean Arctic – Customer exercised a one-well option offshore Norway; and

• Transocean 712 – Awarded a 13-well contract plus a one-well option in the U.K. North Sea.

As previously announced, the company has retired, in an environmentally responsible manner, the following four floaters: Deepwater Discovery, Deepwater Frontier, Deepwater Millennium and Songa Trym.

The report can be accessed on the company’s website:

About Transocean
Transocean is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates one of the most versatile offshore drilling fleets in the world.

Transocean owns or has partial ownership interests in, and operates a fleet of 43 mobile offshore drilling units consisting of 24 ultra-deepwater floaters, 12 harsh environment floaters, two deepwater floaters and five midwater floaters. In addition, Transocean is constructing two ultra-deepwater drillships; and one harsh environment semisubmersible in which the company has a 33 percent interest. The company also operates one high-specification jackup that was under a drilling contract when the rig was sold, and the company will continue to operate the jackup until completion or novation of the drilling contract.

Transocean Ltd. press release