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Subject:  Discoverer India now operating Date:  12/19/2010  8:55 AM
Author:  mjuarez Number:  106 of 1287

A new rig comes online to join the fleet.

ZUG, SWITZERLAND--(Marketwire - December 17, 2010) - Transocean Ltd. (NYSE: RIG) (SIX: RIGN) today announced that the newbuild ultra-deepwater drillship Discoverer India has commenced operations for Reliance Industries in India under a minimum five-year drilling contract. By December 31, 2010, Reliance can choose to extend the term of the contract to either seven or 10 years

According to the October fleet status report, Discoverer India's initial dayrate was going to be $537K/day for the first six months, going up to $557K/day for the next 4 and a half years. That's another $8M in revenue booked, just for operating the last 15 days of the year, and ~$50M per quarter in 2011.

Should at least partially offset the decreased revenue in the GoM.

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