Transocean Ltd. — Director's Dealing 2011

Feb 8, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Transocean Ltd. (RIG)
CIK: 0001451505
Period of Report: 2011-02-07

Reporting Person: Deeming Nicholas (SrVP, Gen Cnsl & Asst Corp Sec)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-07	Deferred Units	$0	A	6725	Acquired		Registered Shares (6725)	Direct

Footnotes

F1: Deferred Units, which are 1-for-1 equivalents, were acquired on February 7, 2011 pursuant to the issuer's long-term incentive plan. Deferred Units vest in equal installments on February 7, 2012, 2013 and 2014.