Houston April 9, 2007 - Transocean Inc. today announced that its affiliate, Transocean Offshore International Ventures Limited ("Transocean"), has entered into an agreement with Pacific Drilling Limited ("Pacific Drilling"). This provides Transocean with the exclusive marketing right for two currently unnamed deepwater drillships under construction, as well as an option to purchase a 50% interest in a joint venture company through which Transocean and Pacific Drilling would own the drillships. The two Samsung 10000 design drillships are currently under construction in Korea with expected delivery dates in 2009. Transocean anticipates providing construction advisory services during the period of the option, construction management services upon exercise of the option and operating management services once the drillships begin operations.

The exclusive marketing right and purchase option granted to Transocean by Pacific Drilling will terminate on November 30, 2007, but can be extended by four months. Transocean may elect to exercise the option in its sole discretion and anticipates exercising the option once it has secured a drilling contract or contracts of sufficient value. The purchase price for the 50% joint venture interest is 50% of the documented costs at the time of exercise. The closing of the transaction is conditioned on the satisfaction of customary closing conditions and the negotiation of definitive joint venture documents. The agreement with Pacific Drilling contemplates that, beginning three years after the closing, Pacific Drilling will have the right to exchange its interest in the joint venture for Transocean ordinary shares or cash.

Oslo April 13, 2007 - Aker Kvaerner has signed a contract with Sevan Production Services Limited for installation of the "Sevan Hummingbird" Floating Production, Storage and Offloading unit (FPSO). The FPSO will be installed on the Chestnut field on the UK Continental Shelf, which is operated by Venture Production. The total contract value for Aker Kvaerner is approximately NOK 145 million.

Sevan Marine has developed a cylindrically shaped platform type. The Sevan hull form may be applied as a an FPSO, a drilling unit or other type applications.

The work will be undertaken by the Aker Kvaerner subsidiary Aker Marine Contractors and comprises pre-installation of the platform mooring system, as well as tow and hook up of the platform named "Sevan Hummingbird."

The platform will be installed on the Chestnut field approximately 200 km East-North East of Aberdeen in the UK sector of the North Sea. The water depth is 123 meters.

The installation of the platform mooring system is planned to commence in May 2007 using the offshore construction vessel BOA Sub C.

The tow and hook up of the platform is planned to commence in September 2007.

The platform will then be towed from Rotterdam where it is being outfitted, to the Chestnut field where it will be hooked up to the pre-installed mooring system.

The contract was booked in first quarter of 2007.

Oslo April 13, 2007 - An unincorporated Aker Kvaerner/ERSAI consortium have started early work activities for Agip KCO for the hook-up and commissioning of the first phase of the Kashagan field development in the Kazakhstan sector of the Caspian Sea. These activities lasts for three months are and are worth up to USD 157 million. In addition, Agip KCO and the Aker Kvaerner/ERSAI consortium have signed a letter of intent for a potential contract for the hook-up work for the first phase of the Kashagan field development.

Aker Kvaerner is currently constructing the process facilities for the first phase, called the Experimental Program, of the Kashagan field development project. "I'm extremely pleased to announce this letter of intent for the hook-up of the production facilities for the first phase of the Kashagan field development. It confirms our strong foothold in the region, a region which will continue to develop its huge natural resources rapidly," says Martinus Brandal, President & CEO in Aker Kvaerner.

The potential contract includes offshore hook-up and commissioning of the offshore facilities as well as inshore completion. In addition to the hook-up and commissioning of the process facilities, the offshore scope includes temporary living quarters for 1 200 people, offices for both the contractors and the client, tools and equipment as well as temporary barges for power generation, work air, tool sheds and warehouse.

Agip Kazakhstan North Caspian Operating Company (KCO) NV, a company fully owned by Eni S.p.A., is the Operator of the appraisal, development and future production operations in the Kazakhstan sector of the Caspian Sea, including the giant Kashagan field, on behalf of seven international companies and under the North Caspian Sea Production Sharing Agreement (PSA).

Consortium companies: Eni S.p.A. (Agip Caspian Sea BV - Operator) 18.52%; JSC NC KazMunayGas (KMG Kashagan BV) 8.33%; ExxonMobil Kazakhstan Inc. 18.52%; Shell Kazakhstan Development BV 18.52%; Total E&P Kazakhstan 18.52%; ConocoPhillips (Phillips Petroleum Kazakhstan Ltd.) 9.26%; INPEX North Caspian Sea Ltd. 8.33%.

The Kashagan field, 80-km southeast of Atyrau is the first large-scale offshore petroleum development in Kazakhstan. Kashagan extends over an area of approximately 75 km x 45 km and is named after a 19th century Kazakh poet from Aktau. Kashagan is the largest oilfield discovered in the northern part of the Caspian Sea.

Aker Kvaerner and ERSAI Caspian Contractor LLC have formed an unincorporated consortium for the hook-up work, both offshore and inshore, with a revenue distribution of approximately 50/50. The actual distribution of revenue will vary from phase to phase depending on each contractor's scope. Contract partners to Agip KCO are Aker Kvaerner Engineering & Technology and ERSAI Caspian Contractor LLC.

London April 13, 2007 - Shetland Coastguard has confirmed that the active search and rescue operation for the crew of Bourbon Dolphin has now ended. Offshore industry vessels on scene are, in fact, continuing to search the area until dark.

Ten crew were recovered form the water last night by rescue units at the scene. Seven survivors were airlifted to Shetland but three of the ten recovered were confirmed as deceased last night.

The search for the five missing crew from the capsized vessel continued throughout the night and today. Royal Navy divers entered the vessel today but found no sign of life and with rough seas making for an extremely dangerous situation they have now withdrawn.

The focus of the operation will now switch to salvage of the vessel which currently remains afloat close to the rig.

Neville Davis, Shetland Coastguard says,

"After an intensive search we must now accept that despite tremendous efforts from all rescue units involved it is extremely unlikely that the five missing crew will be found alive and our sympathies are with the families of the crew at this time.

We would like to thank all the rescue units and vessels involved in this operation who have made every effort possible and thankfully did bring seven survivors to safety."

Houston April 10, 2007 - Marathon Oil Corporation announced today that it has drilled a deepwater discovery well in the Gulf of Mexico on Green Canyon Block 244 (OCS-G 11043).

The Droshky #1 discovery well (previously named Troika Deep) is located approximately 137 miles south-southwest of Venice, La., in approximately 2,900 feet of water. The well was drilled to a total depth of 21,190 feet and encountered high quality oil bearing reservoirs. Based upon log information, the well is estimated to have about 250 feet of net oil pay.

"The preliminary results suggest that the Droshky #1 is a commercial discovery with development likely through the Troika Unit infrastructure which is located approximately two miles from the Droshky well," said Philip G. Behrman, Marathon senior vice president of Worldwide Exploration. Operations have commenced to drill up to two sidetrack wells to be followed by engineering development studies.

Marathon holds a 100 percent interest in the Droshky #1 well and a 50 percent interest in the Troika Unit.