Statoil has awarded Seadrill a drilling contract for the ultra large jack-up rig West Epsilon in Norway. The contract duration will either be two years firm with an option for another two years or three years firm with an option for an additional year. Statoil has a 30 day period to decide on the length of the firm contract. The estimated contract value of the firm period is either USD 241 million or USD 334 million, respectively. Commencement is in direct continuation of the existing contract.
Analyst contact:
Jim Dåtland, Investor Relations Manager +47 51 30 99 19
Media contact:
Alf C Thorkildsen, Chief Financial Officer +47 51 30 99 19
Seadrill Limited
Hamilton, Bermuda
June 16, 2006