Statoil Extends Contract for West Epsilon Jack-up Rig (Norway)

North Atlantic Drilling Ltd., a majority owned subsidiary of Seadrill Limited, announced today that Norway’s Statoil has exercised its option to extend the contract for the heavy-duty harsh environment jack-up rig West Epsilon by two years from December 2014 to December 2016.

The estimated value of the contract extension is US$215 million.

The West Epsilon is a deepwater jack-up for up to 120 meter water depth and capable of drilling up to 9,100 metres. It was built in 1993 by Keppel Fels, Singapore.

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Press Release, December 20, 2012