Transocean Ltd. (NYSE: RIG) (SIX: RIGN) announced today that Rob Shaw has been appointed to serve as Vice President, Controller and Principal Accounting Officer, effective December 1, 2011. Until Mr. Shaw assumes this position, Robert L. Herrin, Jr. will serve as interim Vice President and Controller and Ricardo H. Rosa, the company’s Senior Vice President and Chief Financial Officer, will serve as interim Principal Accounting Officer. Mr. Herrin has served as the company’s Vice President of Internal Audit since 2007, but will not act in that capacity during the period that he serves as interim Vice President and Controller.

Mr. Shaw, age 48, has served as Vice President and Treasurer since joining the company in July 2010. Previously, Mr. Shaw served as Head of Corporate Finance and Treasury at Air Liquide, based in Paris France. He has more than 25 years of financial and business experience, including his roles as Chief Financial Officer, North and South America, at Alstom Transport; Vice President of Investor Relations at Alstom Corporate; as well as senior financial roles at Disney Consumer Products in London and Disneyland Paris. Mr. Shaw started his career at the Chase Manhattan Bank N.A. in New York in 1984.

Mr. Shaw received his Bachelor’s degree from Northwestern University in 1984 and his Masters of Business Administration from The Wharton School at the University of Pennsylvania in 1990.

Mr. Herrin joined Global Marine Inc., a predecessor company, in 1989 as a Senior Auditor and served in various positions of increasing authority, including Audit Manager and Director of Internal Audit. In 2002, he became Vice President, Internal Audit, and was named Vice President and Controller in 2005, a position he served in until the merger of GlobalSantaFe and Transocean in November 2007.

Mr. Herrin received his Bachelor’s degree in Business Administration, Accounting, from Texas Tech University in 1980 and is a Certified Public Accountant.

About Transocean

Transocean is the world's largest offshore drilling contractor and the leading provider of drilling management services worldwide. With a fleet of 134 mobile offshore drilling units as well as four High-Specification Jackups under construction, Transocean's fleet 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. Transocean owns or operates a contract drilling fleet of 48 High-Specification Floaters (Ultra-Deepwater, Deepwater and Harsh-Environment semisubmersibles and drillships), 25 Midwater Floaters, nine High-Specification Jackups, 51 Standard Jackups and one swamp barge utilized in the support of offshore drilling activities.