StevenNewman07Dear co-workers:

Welcome to a new year, and a new era, at Transocean. I spent the first part of 2011 visiting with employees and customers in each of our nine divisions worldwide, plus our Houston corporate office, and I’m more excited than ever to see what we can accomplish together this year.

As you probably know, we’re introducing Transocean’s new vision to our organization, which is a change that I thought about long and hard.

Change has become kind of a dirty word at our company, because it’s normally been associated with major challenges, disruptions and even workload increases – and Transocean has not been shy about dishing it out over the past few years. For example, we went through a major merger in 2007 – the effects of which we are still feeling years later – followed by a re-domestication and a CEO change.

When I came into this job a year ago, we could all be forgiven if we were hoping that calmer seas were in store – so our system could adapt to and absorb these changes, and then continue serving our customers like no other company can. And then came April 20, 2010.

The past year, of course, has been filled with tragedy, profound heartache, and a severe and complex new set of challenges for the Transocean family as we’ve responded to the Macondo well incident. [An update on Macondo is on page 35]

So, yes, all things considered, I was very sensitive to the timing of this new vision. I also know that there’s no time like the present to refocus ourselves on the future.

It’s been said that adversity has a way of introducing you to yourself, and there is no doubt that we’ve found out who we are.

Every time I have seen Transocean people tested and challenged, at any level in our company, what always impresses me most is how you come together with such unstoppable dedication to support the company and your co-workers.

Most of all, we’ve found that what binds us together as 18,000 fellow employees, and drives us forward as one company, is the spirit of exploration that has always compelled mankind to go further, do more, and push back the horizon of discovery and achievement in the process.

From our operations in the harshest environments to the deepest sea depths, we “go there.” We go places, do things, and tackle projects no one else can because we have always been a company driven by an ambition, a vision, that things can be done better tomorrow than they are today.

Put more precisely, we have been at the vanguard of energy exploration for the last half-century precisely because of our commitment to innovation and excellence – and that’s what’s going to drive our success as we go forward.

Our new vision is not about creating challenges, distractions, or additional workload. It’s simply meant to get everyone focused on achieving what we know we can be really good at, based on who we are. [You can read more about the vision rollout on page 12]

You know us. You know what works. You know how to win the right way. The key now is for each of us to focus on executing every day so we not only meet the expectations of our customers and shareholders – but exceed them. After all, 18,000 people pulling together in the same direction cannot be stopped!

I’ll be right there with you every step of the way. What we’re starting here, I hope, is not a top-down monologue where directives are issued from the boardroom without concern for their ramifications. Rather, we are launching a genuine dialogue where every employee will have a voice in shaping the way we work toward achieving our vision over the coming years.

I look forward to seeing you around our offices and fleet this year, and continuing to listen to what’s on your minds.


Steven Newman

President and CEO


A message from CEO Steven Newman

Norway: Portraits of Success

11th Annual FIRST Excellence Award Recipients

2010 Photo Contest Winners

Macondo Update

Measuring Our Success
INBOX: Letters from our customers

Achievements and Milestones

Safety Snapshot

Employee Communications Survey Results

Around Rig
Transocean Unveils New Vision, 2011 Focus Areas

Deepwater Champion Debuts in Turkey

Introducing “People Focus: Face 2 Face” Offshore Training Program

Deepwater Frontier Drills First-Ever Offshore Well in Timor Leste

Addressing Deepwater Challenges with CAPM

Transocean Introduces Code of Integrity

Cairo Employee Gihan Awwad Wins Rig Naming Contest

News Briefs -- New Digs in Angola
Rig Upgrade Snapshot: M.G. Hulme
Alex Illah Named Chairman of Nigeria IADC Chapter
Discoverer India Begins Contract with Reliance Industries
Transocean Expands Corporate Card Program
Recruiting Efforts Score New Talent in SAM Division
HR Hosts Open House in Houston
“World Cup” Trophy Drives Performance Culture in SAM

TO Employees Join the Fight Against Breast Cancer

Aberdeen Employees Raise Money for Cancer Research

Transocean Leader and JW McLean Join Forces to Raise Donations for Sick Co-Worker

Sedco Express Donates to Angola Orphanage

DEN Captain Joins Effort to Drill Water Well in Guatemala

Transocean Employees Participate in Deepwater Horizon Fundraiser

Grand Banks Raises Money for Cancer Organization

Transocean Prospect Raises Pounds for Charity by Dropping Pounds Offshore

Piperdam Employee Event Brings Together North Sea Team, Benefits Charities

Transocean John Shaw Raises Money for FACE

Transocean Donates Computer Equipment to Public Library in Africa

Rig People
Spotlight On: Tony Noriega

Service Anniversaries and Other Events

Editor’s Note

Pat on the Back

Vision in Practice



Copyright © 2009 Transocean LTD.

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