Transocean Ltd. announced that its shareholders approved the acquisition of Ocean Rig UDW Inc. (“Ocean Rig”), by approving the proposals presented at Transocean’s Extraordinary General Meeting.

“We are extremely pleased that our shareholders have overwhelmingly approved our acquisition of Ocean Rig,” said Jeremy Thigpen, President and CEO. “Through this combination, Transocean further enhances our industry-leading fleet of high specification floaters, thus improving our competitive position. We are excited to begin actively marketing these assets into the growing list of opportunities we continue to see emerging across our global customer base.” Thigpen concluded, “We look forward to closing the transaction in the coming days and welcoming Ocean Rig’s experienced crews into the company.”

About Transocean

Transocean (NYSE: RIG) is a leading international provider of offshore contract drilling services for oil and gas wells. The company specializes in technically demanding sectors of the global offshore drilling business with a particular focus on deepwater and harsh environment drilling services, and believes that it operates the highest specification floating offshore drilling fleet in the world.

Transocean owns or has partial ownership interests in, and operates a fleet of 41 mobile offshore drilling units consisting of 23 ultra-deepwater floaters, 12 harsh environment floaters, two deepwater floaters and four midwater floaters. In addition, Transocean is constructing two ultra-deepwater drillships; and one harsh environment semisubmersible in which the company has a 33.0% interest.