West Sirius Kicks Off Operations in the GOM for Devon

Seadrill reports that on July 24, 2008, the ultra-deepwater semi-submersible rig West Sirius commenced operations for Devon Energy in the Gulf of Mexico. West Sirius, which was delivered from Jurong Shipyard in Singapore on March 31 this year, arrived in the Gulf of Mexico earlier this month and has since been finalizing commissioning and acceptance work for the Operator.

West Sirius has a six-year contract with Devon Energy for operations in the Gulf of Mexico. Start-up of operations is in line with the original start-up schedule on the contract. For the mobilization period, Seadrill will receive a dayrate element and compensation for fuel costs, which will be taken to income over the six-year contract term.

Alf C Thorkildsen, CEO in Seadrill Management AS, commented, "After several months in transit from Singapore, we are excited to have started our first deepwater operations in the Gulf of Mexico. This is an important milestone for our Company as West Sirius is the first out of eight deepwater units to be delivered this year, to commence operations. This is also our first assignment for Devon Energy and we look forward to a close co-operation with them over the coming six years."

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