Transocean Issues Update on Macondo Incident; Company Filed Cross-claims Against BP entities

Transocean Ltd. RIG announced today that an affiliate of BP plc BP on April 20, 2011 filed a cross-claim against Transocean entities in the existing Multi-District Litigation proceeding in the U.S. District Court, Eastern District of Louisiana for contribution pursuant to the Oil Pollution Act of 1990. Pursuant to an order of the court, co-defendants in a consolidated proceeding related to the Macondo well incident were required to file claims by April 20, 2011. To protect its rights, Transocean also filed cross-claims against BP entities and other parties involved in the Macondo well incident to enforce its indemnification rights.