Transocean Inc. is the world’s largest offshore drilling contractor with a fleet of 82 mobile offshore drilling units. The company’s mobile offshore drilling fleet, consisting of a large number of high specification deepwater and harsh environment drilling units, is considered one of the most modern and versatile in the world due to its emphasis on technically demanding segments of the offshore drilling business. The company’s fleet consists of 33 High-Specification Floaters (semisubmersibles and drillships), 20 Other Floaters, 25 Jackups and other assets utilized in the support of offshore drilling activities worldwide.

Transocean’s worldwide operations have grown as the company pioneered drilling at increasingly greater water depths and harsher conditions. Since launching the industry’s first jackup drilling rig in 1954, Transocean has achieved numerous technological firsts. These innovations include the first dynamically positioned drillship, the first rig to drill year-round in the North Sea, the first semisumbersible for sub-Arctic, year-round operations and the latest generation of ultra-deepwater semisubmersibles and drillships.

Transocean holds by far the most world water-depth drilling records and as of May 2007 held the current world records for water depth, subsea completion and moored rig operations. Most notably, the Discoverer Deep Seas worked in 10,011 feet of water in the U.S. Gulf of Mexico for Chevron in November 2003, breaking the industry’s 10,000-foot water-depth barrier.

A Cayman Islands exempted corporation, Transocean has approximately 12,500 personnel worldwide. Principal U.S. executive offices are at 4 Greenway Plaza, Houston, Texas 77046, where the telephone number is 713-232-7500. With a current equity market capitalization on May 18, 2007 in excess of $27 billion, Transocean Inc.’s ordinary shares are traded on the New York Stock Exchange under the symbol “RIG.” Transocean, We’re never out of our depth^®.

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