THE CORPORATE LIBRARY

Related Party Transactions and Outside Related Director Information

Transocean Inc. (RIG)

3/22/2006 Proxy Information

Mr. Talbert was Executive Chairman until October 2004.

We own a 50 percent interest in an unconsolidated joint venture company, Overseas Drilling Limited (ŇODLÓ), which owns the drillship Joides Resolution. Siem Offshore Inc. owns the other 50 percent interest in ODL. Our director, Kristian Siem, is the chairman of Siem Offshore Inc. and is also a director and officer of ODL. We provide operational and management services to ODL, and we earned $1.4 million for these services in 2005. ODL also reimburses us for costs which we incur in connection with these services, and we were reimbursed $5.6 million for these services in 2005. In November 2005, we entered into a loan agreement with ODL under which ODL may grant multiple loans to us at its discretion in amounts up to $8 million. ODL may demand repayment at any time upon five business days prior written notice given to us, and any amount due from ODL may be offset against the loan amount at the time of repayment. ODL distributed dividends of approximately $3.0 million to us in 2005. Mr. Siem is also chairman and chief executive officer of Siem Industries, Inc., which owns an approximate 45 percent interest in Siem Offshore Inc.

3/18/2005 Proxy Information

We own a 50 percent interest in an unconsolidated joint venture company, Overseas Drilling Limited (ŇODLÓ), which owns the drillship Joides Resolution. Siem Offshore Inc. (formerly known as DSND Inc.) owns the other 50 percent interest in ODL. Our director, Kristian Siem, is the chairman of Siem Offshore Inc. and is also a director and officer of ODL. We provide operational and management services to ODL, and we earned $2.4 million for these services in 2004. ODL also reimburses us for costs which we incur in connection with these services, and we were reimbursed $4.8 million for these services in 2004. ODL also distributed dividends of approximately $10.6 million to us in 2004. Mr. Siem is also chairman and chief executive officer of Siem Industries, Inc., which owns an approximate 45 percent interest in Siem Offshore Inc.

Prior to 2004, J. Michael Talbert served as executive Chairman since October 2002, was Chief Executive Officer from August 1994 until October 2002

10/14/2004 8K Information

On 10/14/2004 J. Michael Talbert became the non-executive Chairman of the Board of Directors of the Company. Mr. Talbert previously served as the executive Chairman of the Board of Directors of the Company.

3/19/2004 Proxy Information

We own a 50 percent interest in an unconsolidated joint venture company, Overseas Drilling Limited ("ODL"), which owns the drillship Joides Resolution. DSND Inc. owns the other 50 percent interest in ODL. Our director, Kristian Siem, is the chairman of DSND and is also a director and officer of ODL. We provide operational and management services to ODL, and we earned $1.2 million for these services in 2003.

J. Michael Talbert has served as Chairman of Transocean, Inc. since October 2002 and was Chief Executive Officer from August 1994 until October 2002.

As part of the Sedco Forex merger and as a condition to his appointment as Chairman of the Board, we entered into a consulting agreement with Victor E. Grijalva. The consulting agreement terminated in July 2003.

At the time of the R&B Falcon merger, R&B Falcon entered into a consulting agreement with Paul B. Loyd, Jr. The consulting agreement is now expired.

3/28/2003 Proxy Information

We own a 50 percent interest in an unconsolidated joint venture company, Overseas Drilling Limited ("ODL"), which owns the drillship Joides Resolution. DSND Inc. owns the other 50 percent interest in ODL. Our director, Kristian Siem, is the chairman of DSND and is also a director and officer of ODL. We provide operational and management services to ODL, and we earned $1.2 million for these services in 2002. ODL also reimburses us for costs which we incur in connection with these services. ODL loaned $1 million to each of DSND and us in March 2003. These loans are to be repaid in September 2003 and do not bear interest if repaid on time. Mr. Siem is also chairman and chief executive officer of Siem Industries, Inc., which owns more than a 50 percent interest in DSND.

At the time of the R&B Falcon merger, R&B Falcon entered into a consulting agreement with Paul B. Loyd, Jr.