Dear co-workers,

I’ll begin this note with sincere thanks to all of you for your tireless efforts to improve the company’s operational and financial performance.  We have shown great progress in consistently increasing the revenue efficiency of our fleet and, through the implementation of our Shore-based Reorganization Lift (SRL), we have started the process of improving the company’s profitability.  We’ve taken important steps forward to improve Transocean’s competitiveness and your performance is commendable.

I’m always impressed by the focus and commitment of Transocean employees and by the way that our vision and core values serve as  guides as we go about our day-to-day work activities.  A few prime examples are provided by this year’s FIRST Excellence Award recipients who have performed “Above and Beyond” expectations and influenced others to do the same. This positive attitude reflected by the constant search for an answer to the question, “How can I make a difference?” is contagious, and I look forward to the impact these recipients will have on the caliber of next year’s honorees. Their stories on page 20 explain the unique Transocean culture and highlight that we can all perform “above and beyond.”

By doing so, we will continue to succeed as our customers’ trusted partner and further enhance Transocean’s reputation as an innovative leader in offshore drilling. In this regard, we recently celebrated the naming ceremonies of the Deepwater Asgard and Transocean Ao Thai. We also placed two high-specification jackups into service - you can read about the Transocean Siam Driller and Transocean Andaman and their first 90 days of outstanding performance for Chevron in Thailand on page 9. And, for the second time this year, one of our ultra-deepwater drillships set a world water depth record for ONGC in India. The Dhirubhai Deepwater KG1 crews are featured on page 11 for their two-time record-setting performance.

In conclusion, I’ll also highlight the dedication, compassion and sense of civic responsibility represented by the time and monetary contributions made to community organizations and charities by our generous employees. Over the last few months, Transocean employees have generated more than $160,000 in donations through individual contributions and fundraisers. The numerous hours invested and monies donated to charities, as highlighted on page 32, are a reflection of the people who help make Transocean such a great place to work.

Keep going strong and let’s finish 2013 on a high note.


Steven Newman
President and CEO


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