Seadrill Limited
OSLO : SDRL

November 17, 2011 03:06 ET

SDRL - Seadrill secures a two-year contract extension for the ultra-deepwater semi-submersible rig West Aquarius

HAMILTON, BERMUDA--(Marketwire - Nov 17, 2011) - Seadrill has been awarded a two-year extension for the ultra-deepwater semi-submersible rig West Aquarius which is currently operating in Asia under a worldwide contract for ExxonMobil. It is anticipated that the extension period will primarily involve operations in the North Atlantic area. An estimated period of 106 days will be required to mobilize the rig and prepare for operations which will be in addition to the firm extension period. The expected revenue potential for the contract extension is estimated at US$422 million, including US$35 million for the mobilization and operational preparation period. Furthermore, ExxonMobil has the option to extend the contract period further for of up to two years.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: Seadrill Limited via Thomson Reuters ONE

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