Transocean Ltd. (
) announced today that the federal court in Rio de Janeiro served
the company with a preliminary injunction requiring that it cease
operations in Brazil within 30 calendar days from the date of
The company is vigorously pursuing the overturn or suspension of
the preliminary injunction, including through an appeal to the
Superior Court of Justice. Absent relief from the courts,
Transocean will be required to comply with the preliminary
Transocean currently has 10 rigs under contract for work in
Brazil, with nine currently in country, and is evaluating rig
contracts and collaborating with customers to determine appropriate
actions with respect to operations. For the six months ended June
30, 2012, the company's operations in Brazil accounted for
approximately 11 percent of consolidated operating revenues.
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