Seadrill Secures Rig Deal for Santos' Subsidiary Offshore Bangladesh

Seadrill has been awarded a new contract by a subsidiary of Santos Ltd. for the jack-up rig Offshore Resolute. The assignment for operations in Bangladesh will have a minimum duration of 130 days under a three firm well plus two optional wells contract. Commencement of operations under the new contract is scheduled for early third quarter 2011, in direct continuation of the rig's existing contract. The estimated contract value is USD $17.5 million for the firm 130 day minimum duration period.

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