Statoil Awards Contract to West Epsilon for Work Offshore Norway

Statoil has awarded Seadrill a contract for the ultra large jackup, West Epsilon, offshore Norway. The contract duration will either be two years firm with an option for another two years or three years firm with an option for an additional year. Statoil has a 30 day period to decide on the length of the firm contract.

The estimated contract value of the firm period is either US $241 million or US $334 million, respectively. Commencement is in direct continuation of the existing contract.