FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person * THIGPEN JEREMY D   2. Issuer Name and Ticker or Trading Symbol Transocean Ltd. [RIG] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) President & CEO (Last) (First) (Middle) 10 CHEMIN DE BLANDONNET 3. Date of Earliest Transaction (Month/Day/Year) 04/22/2015 (Street) VERNIER, V8 1214 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1.Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 3)

2. Conversion or Exercise Price of Derivative Security

3. Transaction Date (Month/Day/Year)

3A. Deemed Execution Date, if any (Month/Day/Year)

4. Transaction Code (Instr. 8)

5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5)

6. Date Exercisable and Expiration Date (Month/Day/Year)

7. Title and Amount of Underlying Securities (Instr. 3 and 4)

8. Price of Derivative Security (Instr. 5)

9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)

10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)

11. Nature of Indirect Beneficial Ownership (Instr. 4)

Code

V

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Deferred Units

(1)

04/22/2015

A

162,549

(1)

(1)

Registered Shares

162,549

$ 0

162,549

D

Deferred Units

(2)

04/22/2015

A

178,804

(2)

(2)

Registered Shares

178,804

$ 0

341,353

D

Deferred Units

(3)

04/22/2015

A

178,804

(3)

(3)

Registered Shares

178,804

$ 0

178,804

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
THIGPEN JEREMY D 10 CHEMIN DE BLANDONNET VERNIER, V8 1214			President & CEO

Signatures

/s/Jill S. Greene, By Power of Attorney		04/24/2015
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	The Deferred Units were acquired on April 22, 2015, by the reporting person pursuant to the Issuer's long-term incentive plan and vest as follows: 54,183 on April 22, 2016; 54,183 on April 22, 2017; and 54,183 on April 22, 2018.
(2)	The Deferred Units were acquired on April 22, 2015, by the reporting person pursuant to the Issuer's long-term incentive plan and vest as follows: 59,601 on April 22, 2016; 59,601 on April 22, 2017; and 59,602 on April 22, 2018.
(3)	An equity award of performance stock (Contingent Deferred Units) pursuant to the Issuer's long-term incentive plan which are subject to vesting and performance measures currently in place for the Issuer's 2015-2017 performance cycle.

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