Seadrill Secures Contract for Jackup Newbuild

Seadrill has been awarded a letter of intent by a consortium of five operators for an assignment in Australia with the jackup West Triton (Seadrill 2), currently under construction in Singapore. The intended contract has a duration of 310 days, including mobilization and demobilization periods. The estimated contract value is approximately US $85 million. Start-up of operations is scheduled in the first quarter 2008, following delivery of the unit.
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