Exhibit 12.1



GLOBALSANTAFE CORPORATION

STATEMENT SETTING
FORTH DETAIL FOR COMPUTATION OF

RATIO OF EARNINGS TO FIXED CHARGES



(Millions of dollars)



|                                              |  |                         |       |   |      |   |       |      |  |   |       |  
|--------------------------------------------- |  | ----------------------- | ----- | - | ---- | - | ----- | ---- |  | - | ----- | -
|                                              |  | Year Ended December 31, |      
|                                              |  | 2004                    |       |   | 2003 |   |       | 2002 | 
|Fixed charges:                                |  |                         |       |   |      |   |       |      |  |   |       |  
|Interest expense, gross                       |  | $                       | 55.5  |   |      | $ | 67.5  |      |  | $ | 57.1  |  
|Portion of rentals representative of interest |  |                         | 35.6  |   |      |   | 26.1  |      |  |   | 24.4  |  
|                                              |  |                         |       |   |      |   |       |      |  |   |       |  
|Total fixed charges                           |  | $                       | 91.1  |   |      | $ | 93.6  |      |  | $ | 81.5  |  
|                                              |  |                         |       |   |      |   |       |      |  |   |       |  
|Earnings before fixed charges:                |  |                         |       |   |      |   |       |      |  |   |       |  
|Income before income taxes                    |  | $                       | 98.0  |   |      | $ | 129.2 |      |  | $ | 287.1 |  
|Fixed charges                                 |  |                         | 91.1  |   |      |   | 93.6  |      |  |   | 81.5  |  
|Capitalized interest                          |  |                         | (41.0 | ) |      |   | (34.9 | )    |  |   | (20.5 | )
|Amortization of capitalized interest          |  |                         | 3.4   |   |      |   | 3.1   |      |  |   | 3.0   |  
|                                              |  |                         |       |   |      |   |       |      |  |   |       |  
|Total earnings before fixed charges           |  | $                       | 151.5 |   |      | $ | 191.0 |      |  | $ | 351.1 |  
|                                              |  |                         |       |   |      |   |       |      |  |   |       |  
|Ratio of earnings to fixed charges:           |  |                         |       |   |      |   |       |      |  |   |       |  
|Earnings before fixed charges                 |  | $                       | 151.5 |   |      | $ | 191.0 |      |  | $ | 351.1 |  
|Fixed charges                                 |  | $                       | 91.1  |   |      | $ | 93.6  |      |  | $ | 81.5  |  
|                                              |  |                         |      
|Ratio of earnings to fixed charges            |  |                         | 1.66  |   |      |   | 2.04  |      |  |   | 4.31  |  
|                                              |  |                         |       |   |      |   |       |      |  |   |       |