HAMILTON, Bermuda, June 25, 2007 (PRIME NEWSWIRE) -- Seadrill has today entered into an agreement with Keppel O&M in Singapore to build a new semi-submersible self-erecting tender rig (semi-tender). Total capital expenditure for the semi-tender is estimated at US$195 million. The new rig is scheduled for delivery in the first quarter 2010 and will be based on a similar but improved design and specification as Seadrill's West Setia and West Berani. The new unit is targeted for deepwater drilling operations in combination with floating wellhead platforms such as TLPs and Spars in benign waters.
Mr. Kjell Jacobsen, Chief Executive Officer of Seadrill Management AS said: "The decision to add another advanced semi-tender rig to our existing tender rig fleet of fourteen units is based on the continued strength of the offshore drilling market. We expect future growth in demand for tender rigs both in West Africa and Southeast Asia."
Seadrill Limited Hamilton, Bermuda June 25, 2007