Offshore staff

HOUSTON -- Statoil has awarded Transocean Inc. a three-year drilling contract for the Transocean Searcher semisubmersible for operations offshore Norway. The three-year contract for Statoil, on behalf of participants in the Gjøa Group, is expected to begin Oct. 2008 in direct continuation of the rig's present contract with Statoil.

Total E&P UK PLC awarded a one-year drilling contract extension to theSedco 714 semi for operations in the UK North Sea. The contract is expected to be in Nov. 2007 at the conclusion of the semi's present contract commitments with Total.

TheTransocean Searcher and Sedco 714 are two of 20 mid-water rigs in Transocean's fleet.

TheTransocean Searcher is capable of operating in water depths to 457 m (1,500 ft). The rig entered service in 1983 and was upgraded to its current specifications in 1988.

TheSedco 714 is capable of operating in water depths to 488 m (1,600 ft). The rig entered service in 1983 and was upgraded to its current specifications in 1997.

12/22/2006