Transocean Inc.'s jackup rigTrident 20 suffered damage July 3, 2004, resulting from a fire in the rig's engine room while operating offshore Turkmenistan in the Caspian Sea. There were no injuries resulting from the incident, which is under investigation.

TheTrident 20 has been under a firm three-well contract with Petronas in the Caspian Sea since April 2004, with contract completion previously expected in December 2004, subject to extension options. The company does not know how long rig repairs could take, although preliminary estimates range from two to three months. Petronas has advised Transocean that the contract will be suspended to allow time for the repairs.

07/07/04