Sevan Driller:
Sevan Driller had a technical uptime of 55.9% in January 2012. The downtime in January is primarily related to an incident with the wash pipe and swivel drive shaft described in a release dated January 19, 2012.
As of 12 pm local Brasilian time on February 4, Sevan Driller was fully operational.
Sevan Brasil:
The construction and mobilization of Sevan Brasil is progressing according to plan. Sea trials were successfully completed on February 2 and the rig is now undergoing final preparations for transport. The window for heavy lift transport of the rig to Brazil is between March 1 and March 7.
We expect Sevan Brasil to arrive in Rio de Janeiro by mid-April 2012. The rig is scheduled to commence operation under a six year charter contract with Petrobras during second quarter 2012.
Sevan rig no 3:
Construction of Sevan rig no 3 is progressing according to plan. Keel-laying took place October 8, 2011 and erection of main hull is ongoing. Fabrication of drill-floor has started.
Sevan rig no 4:
Construction of Sevan rig no 4 is also progressing according to plan. Keel-laying took place December 16, 2011 and erection of lower part of main hull is ongoing.
For further information, please contact:
Scott Kerr, CEO, Sevan Drilling ASA
+47 99283890 mobile
Jon H. Wilmann, CFO, Sevan Drilling ASA
+47 90560406 mobile
About Sevan Drilling:
Sevan Drilling ASA is an international offshore drilling contractor specializing in the ultra deepwater segment. Sevan Drilling ASA is listed on Oslo Axess.