Seadrill Secures Two New Tender Rig Contracts

Seadrill has been awarded a contract by Chevron for extension of the production drilling assignment for the self-erecting tender rig T4. The contract extension has a duration of five years. The estimated contract value is approximately US $156 million. The commencement of the new contract is scheduled for second quarter 2008 following a five-year survey after completion of the current contract. T4 is currently operating offshore Thailand.

The self-erecting tender rig T11 currently under construction at MMHE in Malaysia has been awarded a five-year contract by Chevron for operations in Thailand. The contract is expected to commence in July 2008 following delivery from the yard. The estimated contract value is US $203 million.

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