Transocean Board Nominates Steve Lucas as New Director (Switzerland)

Transocean Ltd. announced that the Board of Directors is recommending that the company’s shareholders approve at the 2011 Annual General Meeting the election of Steve Lucas as a Class III Director for a three-year term.

Mr. Lucas is the retired Group Finance Director of National Grid plc and has previously served in a variety of finance roles with the Lattice Group plc., the BG Group plc and Royal Dutch/Shell.

As previously announced, the Board of Directors is also recommending that the company’s shareholders at the 2011 Annual General Meeting approve:

— The re-election of Ian C. Strachan and Martin B. McNamara as Class III Directors for three-year terms.

— The election of Jagjeet S. Bindra as a Class III Director for a three-year term. Mr. Bindra is the retired President of Chevron Global Manufacturing and has previously served in a variety of positions at Chevron group.

— The election of Tan Ek Kia as a Class I Director for a one-year term. Mr. Tan is the retired Vice President, Ventures and Developments, Asia Pacific and Middle East Region of Shell Chemicals, and has previously served in a variety of positions at Shell group.

The 2011 Annual General Meeting, which will open to shareholders of record as of April 26, 2011, will be held at 4 p.m., CET, on May 13, 2011, in Cham, Switzerland. Additional details on the meeting will be provided to shareholders in the company’s proxy statement.

[mappress]

Source: Transocean, March 3, 2011;