Seadrill Secures LOI for Jack-Up Newbuild

Seadrill has been awarded a letter of intent from a major operator for the jack-up newbuild West Ariel. The contract has a firm duration of one year, and estimated contract value is approximately US$72 million, including mobilization fee. The assignment is for drilling operations in the South East Asia region.

West Ariel is currently under construction at KFELS in Singapore. Commencement of operation is expected to take place in the second quarter of 2008.

West Ariel is the fifth and final jack-up delivered in the current program to Seadrill from its existing shipyard commitments.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit