SOURCE: Seadrill Limited

November 23, 2010 03:32 ET

SDRL - Seadrill secures contract extension for West Pelaut in Brunei

HAMILTON, BERMUDA--(Marketwire - November 23, 2010) - Seadrill has been awarded a new contract extension by Brunei Shell Petroleum for the semi-tender assist rig West Pelaut. The production drilling assignment has a firm duration of three years, and the contract value is estimated to approximately US$131 million.

The new contract is scheduled to start in direct continuation of the current contract with Shell, at the end of the first quarter 2012.

Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS, says, "It was Shell's forward thinking and support of the semi-tender assist concept that enabled the construction of West Pelaut as the first semi-submersible tender assist platform drilling rig in 1994. West Pelaut has since delivery worked continuously for Brunei Shell Petroleum and recently received the Shell Rig of the Year Award within the tender/platform category. We view this contract extension as an excellent opportunity to build further our strong relationship with Shell and look forward to continue developing the tender assist concept into deep water projects with Shell as a valued operator."

This information is subject of the disclosure requirements acc. to §5- 12 vphl (Norwegian Securities Trading Act)


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Source: Seadrill Limited via Thomson Reuters ONE

Contact Information

  • Analyst contact:
    Jim Datland
    Vice President Investor Relations
    Seadrill Management AS
    +47 51 30 99 19

    Media contact:
    Esa Ikaheimonen
    Chief Financial Officer
    Seadrill Management AS
    +47 51 30 99 19