HAMILTON, Bermuda, July 5, 2007 (PRIME NEWSWIRE) -- The jack-up West Larissa is currently under way to Singapore for a yard-stay. The purpose of the yard-stay is repair of the unit's legs after damages suffered in connection with a punch-through during positioning of the unit for start-up of operations on a wellhead platform in Indonesia. Following inspection of the legs, it has been determined that the unit most likely will be out of operation for up to four months starting today. However, loss of revenues is to some extent expected to be covered by insurance. Furthermore, the unit has experienced various operational issues during the second quarter that have hampered the operational utilization and as such the economic contribution since early May from the unit has been limited.
In Tunisia, the jack-up West Titania is scheduled to commence operations in mid July following yard-stays and relocation from Nigeria. The unit has been idle since January this year.
Seadrill Limited
Hamilton, Bermuda
July 5, 2007