Chevron Awards Three-Year Contract to Seadrill

Seadrill has been awarded a new contract by Cabinda Gulf Oil Company Limited/Chevron International Exploration and Production for development drilling on the Tombua-Landana field offshore Angola.

The contract has a duration of three years with commencement in the first quarter 2009. Estimated contract value is approximately US$ 162 million, including a US$ 8.5 million mobilization fee.

Pending release date from exiting contracts, Seadrill will use either West Berani or West Setia for this assignment.