Transocean Ltd.

and Subsidiaries
Operating and Maintenance (O&M) Costs
(Unaudited)

2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1

Ultra Deepwater_ Average In-Service Direct Costs ($ per day) $ 173,587 $ 182,737 $ 179,521 $ 183,361 $ 178,397
Rig In-Service Days 1,742 1,891 2,189 2,165 2,187
Out of Service & Stacked and Idle Costs ($millions) $ 183 $ 232 $ 94 $ 69 $ 91
Out of Service & Stacked and Idle Days 837 777 400 292 243
Total Rig Operating Costs ($ millions) $ 485 $ 578 $ 487 $ 466 $ 482

Deepwater_ Average In-Service Direct Costs ($ per day) $ 129,208 $ 142,540 $ 151,580 $ 148,474 $ 143,128
Rig In-Service Days 639 709 652 689 661
Out of Service & Stacked and Idle Costs ($millions) $ 26 $ 19 $ 28 $ 35 $ 69
Out of Service & Stacked and Idle Days 112 395 452 403 420
Total Rig Operating Costs ($ millions) $ 108 $ 120 $ 127 $ 137 $ 163

Harsh Environment Floaters_ Average In-Service Direct Costs ($ per day) $ 151,529 $ 159,805 $ 168,682 $ 172,041 $ 174,121
Rig In-Service Days 407 552 434 563 630
Out of Service & Stacked and Idle Costs ($millions) $ 58 $ 54 $ 165 $ 20 $ -
Out of Service & Stacked and Idle Days 223 92 210 74 -
Total Rig Operating Costs ($ millions) $ 120 $ 142 $ 238 $ 116 $ 110

Midwater Floaters_ Average In-Service Direct Costs ($ per day) $ 103,528 $ 111,245 $ 113,781 $ 115,126 $ 105,914
Rig In-Service Days 1,249 1,263 1,256 1,216 1,204
Out of Service & Stacked and Idle Costs ($millions) $ 40 $ 78 $ 96 $ 93 $ 116
Out of Service & Stacked and Idle Days 219 669 676 695 776
Total Rig Operating Costs ($ millions) $ 169 $ 219 $ 239 $ 232 $ 243

High Spec Jackups_ Average In-Service Direct Costs ($ per day) $ 68,539 $ 76,497 $ 70,851 $ 73,135 $ 72,886
Rig In-Service Days 890 876 914 927 832
Out of Service & Stacked and Idle Costs ($millions) $ 6 $ 6 $ 15 $ 11 $ 28
Out of Service & Stacked and Idle Days 10 44 6 48 158
Total Rig Operating Costs ($ millions) $ 67 $ 73 $ 80 $ 79 $ 89

Drilling-Support Costs & Other Direct ($ millions) $ 135 $ 180 $ 147 $ 183 $ 182
Total Operating and Maintenance Costs ($ millions) $ 1,084 $ 1,310 $ 1,317 $ 1,214 $ 1,269

In Service Cost Total Rig Operating Costs ($ millions) $ 637 $ 742 $ 773 $ 804 $ 783
Out of Service Costs & Stacked and Idle costs Total Rig Operating Costs ($ millions) $ 312 $ 388 $ 398 $ 227 $ 304

Definitions

Drilling - Support Costs & Other Direct
Average In-Service Direct Costs
Rig In-Service Days
Out of Service, Stacked and Idle Costs
Out of Service, Stacked and Idle Days
O&M
includes all shorebase and common support costs such as onshore offices, yards, pool equipment and other direct costs such as labor pools and certain newbuild
expenses prior to commencement of operations, as well as costs from assets held for sale.
denotes the weighted average daily O&M costs of a rig while in service based upon the Rig In-Service Days (excluding shorebase or common support costs), as
defined below.
denotes the total amount of days a rig is deemed to be in-service under contract operations. This excludes all out of service time relating to shipyards, mobilization
and short-term out of contract periods but includes the operational downtime of in-service rigs. The average number of days may fluctuate from quarter to quarter
as a result of rigs being reactivated or stacked in the quarter.
denotes the total O&M costs associated with rigs in out of service periods. Out of Service Costs are comprised of the Direct Costs while a rig is out of service plus
the incremental out of service costs. Also includes stacked and idle costs.
includes the total amount of days a rig is deemed to be out of service. This relates to times when a rig is out of service due to shipyards and mobilization. Also
includes stacked and idle days.
Our operating and maintenance costs represent all direct and indirect costs associated with the operation and maintenance of our drilling rigs. Operating and
maintenance costs also include all costs related to local and regional offices as well as all costs related to operations support, engineering support, marketing and
other similar costs. The principal elements of these costs are direct and indirect labor and benefits, repair and maintenance, contract preparation expenses,
insurance, boat and helicopter rentals, professional and technical fees, freight costs, communications, customs duties, tool rentals and services, fuel and water,
general taxes and licenses. Labor, repair and maintenance costs, insurance premiums, personal injury losses and drilling rig casualty losses represent the most
significant components of our operating and maintenance costs.