Offshore staff

HOUSTON -- Transocean Inc. affiliate Transocean Offshore International Ventures Ltd. has agreed to provide exclusive marketing for Pacific Drilling Ltd. on two unnamed deepwater drillships. The agreement also provides the option to purchase a 50% interest in a joint venture company through which Transocean and Pacific Drilling would own the drillships.

The two Samsung 10000 design drillships are under construction in Korea with expected delivery dates in 2009. Transocean anticipates providing construction advisory services during the period of the option, construction management services upon exercising the option, and operating management services once the drillships begin operations.

The exclusive marketing right and purchase option granted to Transocean by Pacific Drilling will terminate on Nov. 30, 2007, but can be extended by four months.

4/9/2007