Norway: Talks on New Five-Year Contract for West Polaris Under Way

Seadrill is in advanced discussions regarding a new five-year contract for the drillship West Polaris.

This new contract will start in direct continuation of the existing assignment which is scheduled to be completed in October 2012.

The potential contract revenue for the five-year period is approximately US$1.16 billion. A final agreement is expected within July 2012.

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Source: Seadrill, June 4, 2012