Copyright © 2009 Transocean LTD.


Dear co-worker:

A few days ago, we announced that early next year, our current President and COO Steven Newman will replace me as the CEO of Transocean. I’ve had a long, wonderful and exciting career here at Transocean that’s spanned more than 33 years, and it’s now the right time to make this transition. There is no better team to be a part of than Transocean’s, and with Steven’s talent and leadership, I know that your future is a bright one. You’ll continue to hear from me in the coming months, and learn a lot more about Steven!

And in this issue of Beacon, you’ll learn a lot more about our 2008 FIRST Excellence Award recipients, who in 2008 stood out from their peers in demonstrating a commitment to our FIRST Core Values – the very foundation of our success as a business.

We’ve now been conducting the FIRST Excellence Awards for 10 years, and I’ve watched with pride as the list of recipients has grown. To date, 90 individuals, 49 rigs (and remember: a rig award is really given to hundreds of people who operate and support it), one team and even an entire region have been FIRST Excellence Award recipients. Please enjoy reading about this year’s FEA group who I had the pleasure of getting to know in Houston this spring.

I can’t talk about our FIRST Core Values without immediately thinking of Mike Hall, our former VP of Newbuilds. We were deeply saddened by Mike’s untimely death in June, following a multiple coronary bypass surgery in Houston. I had the privilege to speak at Mike’s funeral where I said that if we did not have a rule against Transocean officers receiving our FIRST Excellence Award, Mike undoubtedly would have received this honor. There’s a tribute to Mike on page 25 that I hope you’ll like.

But there’s another tribute to Mike, and his entire Newbuilds team, in this issue. The Discoverer Clear Leader, our first enhanced Enterprise-class drillship, began operations for client Chevron in the U.S. Gulf of Mexico in August. Read more about what it took to achieve this milestone on page 20.

As we head into fall, I look forward to seeing many of you in the regions I plan to visit. As always, I encourage everyone to remain focused on our core values and achieving our safety vision of an incident-free workplace.


Bob Long