‘Sevan Louisiana’ Rig Delivered

'Sevan Louisiana' Rig Delivered

Sevan Drilling has today, 23 October 2013, taken delivery of Sevan Louisiana from Cosco Quidong Shipyard in China. Sevan Louisiana is Sevan Drilling’s third deep water drilling rig and will start the transit to the US Gulf of Mexico

It is expected that the rig will  start operation for LLOG Bluewater towards the end of Q1 2014, following completion of mobilization and certain additional equipment installations.

Mobilisation and operation of the Sevan Louisiana will be managed by Seadrill, which has, of recently, become the marketing agent for the whole Sevan Drilling fleet.

The Sevan Louisiana, capable of drilling in water depths up to 10,000 feet, will use its own engines during the transit to the U.S. Gulf of Mexico, assisted by a towing vessel.

The rig is of Sevan’s innovative cylindrical hull design that makes the rig less sensitive to weather conditions.

In connection with the delivery of Sevan Louisiana, the company has also closed and drawn USD 1,400 million of its new USD 1,750 million bank facility as announced on 23 July 2013. These funds have been used to repay and settle the existing bank facilities related to Sevan Driller and Sevan Brasil and to settle the remaining installment and other payables to Cosco.

October 23, 2013