Thailand: Seadrill Wins Contract from PTTEP for Jack-up Rig West Leda

Seadrill has been awarded a new contract by PTTEP in Thailand for the jack-up rig West Leda. The assignment is for a firm period of nine months and with an option to extend for a further six months. The contract value for the firm period is approximately US$35 million.

Commencement of the operations under the new contract is scheduled for late second quarter 2011, in direct continuation of the rig’s existing contract.

Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS, says, “We are pleased to secure a new contract for one of our jack-ups in the South East Asia region. We consider this as an excellent opportunity to further strengthening our relationship with PTTEP, one of our key customers. Representing a total contract value of US$35 million, this assignment improves the earnings visibility for our jack-ups.”

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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Source: Seadrill, May 31, 2011;