Offshore staff

HOUSTON -- A Transocean subsidiary has entered into a settlement and license agreement with Noble Corp. The subsidiary granted Noble a worldwide and non-exclusive license to use Transocean's patents for offshore dual activity drilling methods and structures on the semisubmersible rig Noble Clyde Boudreaux, which is currently working in the US Gulf of Mexico.

The agreement follows a settlement of Transocean's Feb. 2007 patent infringement suit against Noble. Transocean alleged that a recent upgrade to theNoble Clyde Boudreaux infringed claims of the Transocean patents. Transocean also alleged that the rig's contract with Shell and expected operations in the GoM would infringe the patents as well.

As part of the settlement, Transocean granted Noble a worldwide and non-exclusive license for using the dual activity drilling technology on theNoble Clyde Boudreaux. Transocean agreed to license the rig for the life of the dual activity patents for an undisclosed royalty, but Noble may terminate the agreement after the initial two-year term of the Shell contract if Noble removes the patented dual activity capability from the rig. The agreement does not cover additional rigs, but Noble has agreed not to challenge Transocean's dual activity patents in the future.

Transocean has patented the structure and methods of operations associated with its dual activity invention in the US (US Patent Nos. 6,085,851; 6,047,781; 6,056,071; and 6,068,069) and in other parts of the world where dual activity rigs may be built or used.

7/30/2007