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

OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(Print or Type Responses)

1. Name and Address of Reporting Person * CAUTHEN GREGORY L   2. Issuer Name and Ticker or Trading Symbol TRANSOCEAN INC [RIG] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) Sr. VP and CFO (Last) (First) (Middle) 4 GREENWAY PLAZA 3. Date of Earliest Transaction (Month/Day/Year) 01/03/2007 (Street) HOUSTON, TX 77046 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 Ordinary Shares 01/03/2007   M(1)   743 A $ 28.12 41,902 D   Ordinary Shares 01/03/2007   S(1)   743 D $ 78.62 41,159 D   Ordinary Shares 01/03/2007   M(1)   1,710 A $ 28.12 42,869 D   Ordinary Shares 01/03/2007   S(1)   1,710 D $ 78.61 41,159 D   Ordinary Shares 01/03/2007   M(1)   2,067 A $ 28.12 43,226 D   Ordinary Shares 01/03/2007   S(1)   2,067 D $ 78.6 41,159 D   Ordinary Shares 01/03/2007   M(1)   1,030 A $ 28.12 42,189 D   Ordinary Shares 01/03/2007   S(1)   1,030 D $ 78.59 41,159 D   Ordinary Shares 01/03/2007   M(1)   33 A $ 28.12 41,192 D   Ordinary Shares 01/03/2007   S(1)   33 D $ 78.58 41,159 D   Ordinary Shares 01/03/2007   M(1)   33 A $ 28.12 41,358 D   Ordinary Shares 01/03/2007   S(1)   33 D $ 78.57 41,159 D   Ordinary Shares 01/03/2007   M(1)   33 A $ 28.12 41,192 D   Ordinary Shares 01/03/2007   S(1)   33 D $ 78.56 41,159 D   Ordinary Shares 01/03/2007   M(1)   66 A $ 28.12 41,225 D   Ordinary Shares 01/03/2007   S(1)   66 D $ 78.55 41,159 D   Ordinary Shares 01/03/2007   M(1)   117 A $ 28.12 41,276 D   Ordinary Shares 01/03/2007   S(1)   117 D $ 78.54 41,159 D   Ordinary Shares 01/03/2007   M(1)   628 A $ 28.12 41,787 D   Ordinary Shares 01/03/2007   S(1)   628 D $ 78.53 41,159 D   Ordinary Shares 01/03/2007   M(1)   150 A $ 28.12 41,309 D   Ordinary Shares 01/03/2007   S(1)   150 D $ 78.52 41,159 D   Ordinary Shares 01/03/2007   M(1)   176 A $ 28.12 41,335 D   Ordinary Shares 01/03/2007   S(1)   176 D $ 78.51 41,159 D   Ordinary Shares 01/03/2007   M(1)   167 A $ 28.12 41,326 D   Ordinary Shares 01/03/2007   S(1)   167 D $ 78.5 41,159 D   Ordinary Shares 01/03/2007   M(1)   300 A $ 28.12 41,459 D   Ordinary Shares 01/03/2007   S(1)   300 D $ 78.49 41,159 D (3)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.		SEC 1474 (9-02)

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
Stock Options	$ 28.12	01/03/2007		M(1)			743	(2)	07/07/2014	Ordinary Shares	743	$ 0	18,871	D
Stock Options	$ 28.12	01/03/2007		M(1)			1,710	(2)	07/07/2014	Ordinary Shares	1,710	$ 0	17,161	D
Stock Options	$ 28.12	01/03/2007		M(1)			2,067	(2)	07/07/2014	Ordinary Shares	2,067	$ 0	15,094	D
Stock Options	$ 28.12	01/03/2007		M(1)			1,030	(2)	07/07/2014	Ordinary Shares	1,030	$ 0	14,064	D
Stock Options	$ 28.12	01/03/2007		M(1)			33	(2)	07/07/2014	Ordinary Shares	33	$ 0	14,031	D
Stock Options	$ 28.12	01/03/2007		M(1)			33	(2)	07/07/2014	Ordinary Shares	33	$ 0	13,998	D
Stock Options	$ 28.12	01/03/2007		M(1)			33	(2)	07/07/2014	Ordinary Shares	33	$ 0	13,965	D
Stock Options	$ 28.12	01/03/2007		M(1)			66	(2)	07/07/2014	Ordinary Shares	66	$ 0	13,899	D
Stock Options	$ 28.12	01/03/2007		M(1)			117	(2)	07/07/2014	Ordinary Shares	117	$ 0	13,782	D
Stock Options	$ 28.12	01/03/2007		M(1)			628	(2)	07/07/2014	Ordinary Shares	628	$ 0	13,154	D
Stock Options	$ 28.12	01/03/2007		M(1)			150	(2)	07/07/2014	Ordinary Shares	150	$ 0	13,004	D
Stock Options	$ 28.12	01/03/2007		M(1)			176	(2)	07/07/2014	Ordinary Shares	176	$ 0	12,828	D
Stock Options	$ 28.12	01/03/2007		M(1)			167	(2)	07/07/2014	Ordinary Shares	167	$ 0	12,661	D
Stock Options	$ 28.12	01/03/2007		M(1)			300	(2)	07/07/2014	Ordinary Shares	300	$ 0	12,361	D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
CAUTHEN GREGORY L 4 GREENWAY PLAZA HOUSTON, TX 77046			Sr. VP and CFO

Signatures

William E. Turcotte by Power of Attorney		01/05/2007
**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 transactions reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 16, 2006.
(2)	On July 8, 2004, the reporting person was awarded a contingent, performance based grant of 52,230 stock options, which were subject to the satisfaction of certain performance criteria based upon specified peer groups. Depending upon the issuer's performance within the peer groups, the reporting person could earn some, all or none of the options. The issuer's actual performance resulted in options to purchase 37,083 shares being earned, which vest as follows: 12,361 on April 11, 2006, 12,361 on January 1, 2007 and 12,361 on January 1, 2008.
(3)	Reporting person had multiple transactions effected on same day pursuant to a Rule 10b5-1 trading plan which resulted in multiple Form 4 filings on January 5, 2007. Reporting person's indirect holdings of 516 ordinary shares held pursuant to Issuer Employee Stock Purchase Plan are reported on separate Form 4 filed on this date.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.