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SDRL - Seadrill orders new ultra-deepwater drillship for delivery in 2014

Nachrichtenquelle: GlobeNewswire
30.04.2012, 09:07  |  652   |   |   

Hamilton, Bermuda, April 30, 2012 - Seadrill continues to see strong demand for
modern ultra-deepwater drilling rigs driven by high oil prices and large deep-
water discoveries and increased development drilling. Specific interest, mainly
from operators in West Africa and the Americas, demonstrate a trend towards
higher day rates and longer term contracts.
With yard costs at very attractive levels and Seadrill´s proven track record
with respect to successful new build construction the Company is pleased to
announce the order of a sixth drillship from Samsung with delivery in the second
quarter of 2014. The expected total project cost is less than USD600 million, in
line with the 5 units under construction and with delivery in 2013 and 2014. The
yard contract was originally between a party related to Seadrill´s major
shareholder Hemen Holding and Samsung, as part of a larger shipyard deal, but
Seadrill has been given the right to take over the contract at original terms.

Seadrill´s current new build program now includes 17 units: 6 ultra deep-water
drillships, 1 harsh environment semi submersible, 5 tender rigs and 5 jack ups,
all to be delivered in the period from Q4 2012 to Q1 2015. In addition, Seadrill
has received a fixed price option for a further ultra deep-water drillship. The
six drillships under construction are of the same design and will have a hook
load capability of 1,250 tons and a water depth capacity of up to 12,000 feet
targeting operations in areas such as the Gulf of Mexico, Brazil and West and
East Africa. Also, these units will be outfitted with seven ram configuration of
the Blow out Preventer (BOP) stack and with storing and handling capacity for a
second BOP.

CEO of Seadrill Alf Thorkildsen says:
"With the available capacity in 2013 and 2014 Seadrill is uniquely positioned
among its peers to take advantage of strong demand for drilling services with
high dayrates and longer charter contracts. We will continue to aggressively
build Seadrill´s earnings and further expansion of the building program is
expected in the months to come. Together, these developments provide for
continued value creation and an increased dividend capacity."


Alf C Thorkildsen
Chief Executive Officer
Seadrill Management AS
+47 51 30 99 19

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

This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

Source: Seadrill Limited via Thomson Reuters ONE

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