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Exhibit 21

SUBSIDIARIES OF TRANSOCEAN LTD.

(as of December 31, 2025)

Name

Jurisdiction

15375 Memorial Corporation

Delaware

Aguas Profundas, Limitada

Angola

Angola Deepwater Drilling Company (Offshore Services) Ltd

Bermuda

AngoSantaFe - Prestacao de Servicos Petroliferos, Limitada

Angola

Arcade Drilling AS

Norway

Asie Sonat Offshore Sdn. Bhd.

Malaysia

Challenger Minerals Inc.

California

Deepwater Drilling (Transocean Ghana) LTD

Ghana

Deepwater Drilling North Africa LLC - Free Zone

Egypt

Deepwater Pacific 1 Limited

Bermuda

Deepwater Supply Inc.

Delaware

Drillship Alonissos Owners Limited

Bermuda

Drillship Paros Owners Limited

Bermuda

Drillship Skyros Owners Limited

Bermuda

Entities Holdings, Inc.

Delaware

Global Marine Inc.

Delaware

Global Offshore Drilling Limited

Nigeria

GlobalSantaFe B.V.

Netherlands

GlobalSantaFe Denmark Holdings ApS

Denmark

GlobalSantaFe Drilling (N.A.) N.V.

Netherlands Antilles

GlobalSantaFe Drilling Company

Delaware

GlobalSantaFe Drilling Mexico, S. de R.L. de C.V.

Mexico

GlobalSantaFe Drilling Trinidad LLC

Delaware

GlobalSantaFe Drilling Venezuela, C.A.

Venezuela

GlobalSantaFe Financial Services (Luxembourg) S.a.r.l.

Luxembourg

GlobalSantaFe Group Financing Limited Liability Company

Hungary

GlobalSantaFe Hungary Services Limited Liability Company

Hungary

GlobalSantaFe International Drilling Corporation Limited

Bermuda

GlobalSantaFe International Drilling Limited

Bermuda

GlobalSantaFe International Services Limited

Bermuda

GlobalSantaFe Nederland B.V.

Netherlands

GlobalSantaFe Offshore Services Limited

Bermuda

GlobalSantaFe Operations (Mexico) LLC

Delaware

GlobalSantaFe Saudi Arabia Ltd.

Bermuda

GlobalSantaFe Services (BVI) Limited

Bermuda

GlobalSantaFe Services Netherlands B.V.

Netherlands

GlobalSantaFe Servicios de Venezuela, C.A.

Venezuela

GlobalSantaFe South America LLC

Delaware

GlobalSantaFe U.S. Holdings Inc.

Delaware

1


Exhibit 21

Name

Jurisdiction

GSF Leasing Services GmbH

Switzerland

Indigo Drilling Limited

Nigeria

Inteliwell Limited

England & Wales

Liquila DWA LLC

Hungary

Ocean Rig Management Limited

Bermuda

Ocean Rig Operations Limited

Bermuda

Ocean Rig UDW Limited

Bermuda

Offshore Ghana Transocean LTD

Ghana

Olympia Rig Angola Holding, S.A.

Angola

Olympia Rig Angola, Limitada

Angola

OR Norge Operations Inc.

Marshall Islands

Platform Capital N.V.

Netherlands Antilles

Platform Financial N.V.

Netherlands Antilles

Primelead Limited

Cyprus

PT SantaFe Subsea Indonesia

Indonesia

PT. Transocean Indonesia

Indonesia

R&B Falcon (A) Pty Ltd

Western Australia

R&B Falcon (Caledonia) Limited

England & Wales

R&B Falcon (U.K.) Limited

England & Wales

R&B Falcon Exploration Co., LLC

Oklahoma

Ranger Insurance Limited

Bermuda

RBF Rig Corporation, LLC

Delaware

Reading & Bates Coal Co., LLC

Nevada

Santa Fe Braun Inc.

Delaware

Santa Fe Construction Company

Delaware

Santa Fe Drilling Company of Venezuela, C.A.

California

Saudi Drilling Company Limited

Saudi Arabia

Sedco Forex International Limited

Bermuda

Servicios Petroleros Santa Fe, S.A.

Venezuela

Songa Offshore Delta Limited

Cyprus

Songa Offshore Drilling Limited

Cyprus

Songa Offshore Enabler Limited

Cyprus

Songa Offshore Encourage Limited

Cyprus

Songa Offshore Endurance Limited

Cyprus

Songa Offshore Equinox Limited

Cyprus

Songa Offshore Management Limited

Cyprus

Songa Offshore Pte. Ltd.

Singapore

Songa Offshore Rig 2 AS

Norway

Songa Offshore Rig 3 AS

Norway

Songa Offshore Saturn Limited

Cyprus

Songa Offshore SE

Cyprus

T. I. International Mexico, S. de R.L. de C.V.

Mexico

2


Exhibit 21

Name

Jurisdiction

TILAM Holdings Limited

Bermuda

Transocean Africa Drilling Limited

Bermuda

Transocean Aquila Limited

Bermuda

Transocean Asia Services Sdn. Bhd.

Malaysia

Transocean Asset Holdings 1 Limited

Bermuda

Transocean Asset Holdings 2 Limited

Bermuda

Transocean Asset Holdings 3 Limited

Bermuda

Transocean Atlas Limited

Bermuda

Transocean Barents ASA

Norway

Transocean Brasil Ltda.

Brazil

Transocean Britannia Limited

Bermuda

Transocean Canada Drilling Services Ltd.

Nova Scotia

Transocean Cayman Management Services Limited

Cayman Islands

Transocean Conqueror Limited

Bermuda

Transocean Conqueror Opco LLC

Delaware

Transocean Corporate Services Limited

Cayman Islands

Transocean Cyprus Capital Management Public Limited

Cyprus

Transocean Deepwater Drilling Services Limited

Bermuda

Transocean Deepwater Holdings Limited

Bermuda

Transocean Deepwater Inc.

Delaware

Transocean Deepwater Mauritius

Mauritius

Transocean Deepwater Seafarer Services Limited

Bermuda

Transocean Discoverer 534 LLC

Delaware

Transocean Drilling Enterprises S.a r.l.

Luxembourg

Transocean Drilling Namibia Limited

Bermuda

Transocean Drilling Offshore S.a r.l.

Luxembourg

Transocean Drilling Sdn. Bhd.

Malaysia

Transocean Drilling Services (India) Private Limited

India

Transocean Drilling U.K. Limited

Scotland

Transocean Eastern Pte. Ltd.

Singapore

Transocean Employee Support Fund

Texas

Transocean Enabler Financing Limited

Bermuda

Transocean Enabler Limited

Bermuda

Transocean Encourage Financing Limited

Bermuda

Transocean Encourage Limited

Bermuda

Transocean Entities Holdings GmbH

Switzerland

Transocean Explorer Services, LLC

Delaware

Transocean Finance Limited

Bermuda

Transocean Financing (Cayman) Limited

Bermuda

Transocean Guardian Limited

Bermuda

Transocean Holdings 1 Limited

Bermuda

Transocean Holdings 2 Limited

Bermuda

3


Exhibit 21

Name

Jurisdiction

Transocean Holdings 3 Limited

Bermuda

Transocean Hungary Holdings LLC

Hungary

Transocean Hungary Ventures LLC

Hungary

Transocean Innovation Labs Ltd.

Bermuda

Transocean International Holdings Limited

Bermuda

Transocean International Limited

Bermuda

Transocean International Resources, Limited

Bermuda

Transocean Investments Holdings LLC

Delaware

Transocean Investments S.a r.l.

Luxembourg

Transocean Ltd.

Switzerland

Transocean Management Services GmbH

Switzerland

Transocean Minerals Holdings Limited

Bermuda

Transocean Norway Operations AS

Norway

Transocean Offshore (North Sea) Ltd.

Bermuda

Transocean Offshore Deepwater Drilling Inc.

Delaware

Transocean Offshore Deepwater Holdings Limited

Bermuda

Transocean Offshore Gulf of Guinea II Limited

Bermuda

Transocean Offshore Gulf of Guinea VII Limited

Bermuda

Transocean Offshore Gulf of Guinea XIII Limited

Bermuda

Transocean Offshore International Limited

Bermuda

Transocean Offshore International Ventures Limited

Bermuda

Transocean Offshore Limited

Delaware

Transocean Offshore PR Limited

Bermuda

Transocean Offshore USA Inc.

Delaware

Transocean Onshore Support Services Limited

Scotland

Transocean Pontus Limited

Bermuda

Transocean Poseidon Limited

Bermuda

Transocean Poseidon Opco, Inc.

Delaware

Transocean Proteus Limited

Bermuda

Transocean Proteus Opco LLC

Delaware

Transocean Quantum Management Limited

Bermuda

Transocean Rig 140 Limited

Bermuda

Transocean Sedco Forex Ventures Limited

Bermuda

Transocean Sentry Limited

Bermuda

Transocean Services (India) Private Limited

India

Transocean Services AS

Norway

Transocean Skyros Limited

Bermuda

Transocean Spitsbergen ASA

Norway

Transocean SPSF Holdings Limited

Bermuda

Transocean Sub Asset Holdings 1 Limited

Bermuda

Transocean Sub Asset Holdings 2 Limited

Bermuda

Transocean Sub Asset Holdings 3 Limited

Bermuda

4


Exhibit 21

Name

Jurisdiction

Transocean Support Services Limited

Bermuda

Transocean Support Services Nigeria Limited

Nigeria

Transocean Support Services Private Limited

India

Transocean Technical Services Egypt LLC

Egypt

Transocean Titan Financing Limited

Bermuda

Transocean U.S. Holdings LLC

Delaware

Transocean UK Limited

England & Wales

Transocean Voyager 1 Limited

Bermuda

Transocean Worldwide Limited

Bermuda

Triton Aquila GmbH

Switzerland

Triton Atlas GmbH

Switzerland

Triton Capital I GmbH

Switzerland

Triton Capital II GmbH

Switzerland

Triton Capital Mexico GmbH

Switzerland

Triton Corcovado LLC

Hungary

Triton Financing LLC

Hungary

Triton Gemini GmbH

Switzerland

Triton Holdings Limited

Bermuda

Triton Hungary Asset Management LLC

Hungary

Triton Hungary Investments 1 Limited Liability Company

Hungary

Triton Industries Limited

Bermuda

Triton KG2 GmbH

Switzerland

Triton Management Services LLC

Hungary

Triton Mykonos LLC

Hungary

Triton Nautilus Asset Leasing GmbH

Switzerland

Triton Nautilus Asset Management LLC

Hungary

Triton Poseidon GmbH

Switzerland

Triton Quantum I GmbH

Switzerland

Triton Quantum II GmbH

Switzerland

Triton Quantum Rig Holdings GmbH

Switzerland

Triton Titan GmbH

Switzerland

Triton Voyager Asset Leasing GmbH

Switzerland

TRM Holdings Limited

Bermuda

TSSA - Servicos de Apoio, Lda.

Angola

5