EXHIBIT 12.1

                    TRITON ENERGY LIMITED AND SUBSIDIARIES
              COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                        (IN THOUSANDS, EXCEPT RATIOS)
                                 (UNAUDITED)
<TABLE>
<CAPTION>


<S>                                                  <C>             <C>        <C>             <C>                   <C>

                                                                                SEVEN MONTHS
                                                     YEAR ENDED                 ENDED
                                                     DECEMBER 31,               DEC. 31,        YEAR ENDED MAY 31,
                                                     -------------------------                  --------------------------------
                                                              1996       1995            1994                  1994        1993
                                                     --------------  ---------  --------------  --------------------  ----------

Fixed charges, as defined (1):
    Interest charges                                 $      43,884   $ 41,305   $      20,285   $            26,951   $  16,336
    Preferred dividend requirements of
      subsidiaries adjusted to pre-tax basis                   ---        ---             ---                   364       1,551
                                                     --------------  ---------  --------------  --------------------  ----------
        Total fixed charges                          $      43,884   $ 41,305   $      20,285   $            27,315   $  17,887
                                                     --------------  ---------  --------------  --------------------  ----------

Earnings, as defined (1) (3):
  Earnings (loss) from continuing operations
     before income taxes, minority interest,
     extraordinary item and cumulative effect of
     accounting change                               $      20,945   $ 16,600   $     (22,834)  $           (23,104)  $(147,445)
  Fixed charges, above                                      43,884     41,305          20,285                27,315      17,887
  Less interest capitalized                                (27,102)   (16,211)        (11,833)              (16,863)     (6,407)
  Plus undistributed (earnings) loss of affiliates            (118)     2,249           4,102                  (645)      3,012
  Less preferred dividend requirements of
    subsidiaries adjusted to pre-tax basis                     ---        ---             ---                  (364)     (1,551)
                                                     --------------  ---------  --------------  --------------------  ----------
                                                     $      37,609   $ 43,943   $     (10,280)  $           (13,661)  $(134,504)
                                                     --------------  ---------  --------------  --------------------  ----------

RATIO OF EARNINGS TO FIXED CHARGES (2) (3)                     0.9        1.1             ---                   ---         ---
                                                     --------------  ---------  --------------  --------------------  ----------



<S>                                                  <C>



                                                     YEAR ENDED
                                                       MAY 31,
                                                     ---------
                                                         1992
                                                     ---------

Fixed charges, as defined (1):
    Interest charges                                 $ 11,066
    Preferred dividend requirements of
      subsidiaries adjusted to pre-tax basis            1,780
                                                    ---------
        Total fixed charges                          $ 12,846
                                                     ---------

Earnings, as defined (1) (3):
  Earnings (loss) from continuing operations
     before income taxes, minority interest,
     extraordinary item and cumulative effect of
     accounting change                               $(87,124)
  Fixed charges, above                                 12,846
  Less interest capitalized                            (6,529)
  Plus undistributed (earnings) loss of affiliates      2,558
  Less preferred dividend requirements of
    subsidiaries adjusted to pre-tax basis             (1,780)
                                                     ---------
                                                     $(80,029)
                                                     ---------

RATIO OF EARNINGS TO FIXED CHARGES (2) (3)                ---
                                                     ---------

</TABLE>


(1)        Earnings include the Company's equity in the losses of an affiliate
whose  debt  was  guaranteed by the Company.  Related interest charges for the
year  ended  May  31, 1992 of $819,000 were excluded from fixed charges due to
the  improbability  that  such  guarantees  would  be  honored.

(2)         Earnings were inadequate to cover fixed charges for the year ended
December  31, 1996 by $6,275,000, for the seven months ended December 31, 1994
by  $30,565,000,  and  for  the  years  ended  May  31, 1994, 1993 and 1992 by
$40,976,000,  $152,391,000  and  $92,875,000,  respectively.

(3)          Earnings  reflect  nonrecurring writedowns and loss provisions of
$46,153,000  and  $1,058,000  for  the years ended December 31, 1996 and 1995,
$984,000  for  the  seven  months  ended  December  31, 1994, and $45,754,000,
$99,883,000  and  $48,805,000 for the years ended May 31, 1994, 1993 and 1992,
respectively.  Nonrecurring  gains  from  the  sale of  assets and other gains
aggregated $22,189,000, $13,617,000 and $56,193,000 for the years
ended December 31, 1996 and 1995, and May 31, 1994, respectively. The ratio of
earnings to fixed charges if adjusted to remove nonrecurring items, would have
been 1.4 and 0.8 for the years ended December 31, 1996 and 1995, respectively.
 Without  nonrecurring  items,  earnings  would  have been inadequate to cover
fixed  charges  for  the  year ended December 31, 1995  by $9,921,000, for the
seven  months  ended December 31, 1994 by $29,581,000, and for the years ended
May  31,  1994,  1993  and  1992 by $51,415,000,  $45,183,000 and $32,301,000,
respectively.