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Transocean General Counsel Resigns

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Transocean (NYSE: RIG) today announced that on October 23, 2012, Nick Deeming notified Transocean Ltd. of his resignation as Senior Vice President, General Counsel and Assistant Corporate Secretary for personal reasons. The company expresses its gratitude to Mr. Deeming for his service.Effective immediately, Mr. Deeming's responsibilities as General Counsel will be assumed by Michael F. Munro, Vice President, Deputy General Counsel and Chief Compliance Officer, and David Schwab, Senior Associate General Counsel, Global Head of Dispute Resolution. Messrs. Munro and Schwab will report to Steven L. Newman, President and Chief Executive Officer.Mr. Munro joined Transocean in 2008 as Associate General Counsel and Chief Compliance Officer. He was named Vice President in February 2010 and Deputy General Counsel in May 2012. Before joining Transocean, Mr. Munro held legal and compliance positions at Baker Hughes, Inc. and Bristow Inc. From 1989-2006, he held various positions with The Dow Chemical Company including Corporate Treasury Counsel, Managing Counsel International Trade and Deputy Director, Global Ethics and Compliance. Mr. Munro earned his bachelor's degree at the University of Michigan, Ann Arbor, and a joint Juris Doctorate and Masters of Business Administration from the University of

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