HAMILTON, BERMUDA--(Marketwire - Mar 5, 2013) - Seadrill has exercised fixed price
for the construction of two high specification jack-up drilling rigs at
Shipbuilding Industry Offshore Co., Ltd. (DSIC Offshore) in China. The rigs
scheduled for delivery during the third and fourth quarter of 2015, and the
estimated total project price is approximately US$230 million (including
management, capitalized interest, drilling and handling tools, spares and
operation preparations) per rig, with tail-heavy payment terms.
The two new units will be based on the F&G JU2000E design, with water depth
capacity of 400ft and drilling depth of 30,000ft. Seadrill has now in total
jack-ups under construction at DSIC Offshore of which two are scheduled for
delivery in 2013 and four in 2015.
Fredrik Halvorsen, Chief Executive Officer of Seadrill Management Ltd, says
comment, "The two jack-up newbuilds are ordered in-line with our customers
preference for high specification jack-up drilling rigs and a strengthening
jack-up drilling market. We continue to see solid demand for this asset
with both dayrates and contract duration increasing. These two new orders
increase Seadrill's jack-up fleet to 28 units and strengthen our position
largest operator of modern high specification drilling units."
This information is subject of the disclosure requirements pursuant to
5-12 of the Norwegian Securities Trading Act.
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Source: Seadrill Limited via Thomson Reuters ONE