HAMILTON, Bermuda, Feb. 1, 2007 (PRIME NEWSWIRE) -- Seadrill is in discussions with a company under formation, Sea Production Limited, concerning a potential sale of the FPSO vessel Crystal Ocean. Final terms and conditions regarding a sale are still under discussion. A completion of a sale is dependent on a successful issue of new equity in Sea Production Limited. A final clarification around the possible sale is expected during the next week.
At present, Crystal Ocean is operating in Australia at Bass Strait, for Anzon, on a contract that extends to 2009.
Seadrill Limited Hamilton, Bermuda February 1, 2007