SDRL - Seadrill orders new semi-tender for delivery in 2013

Hamilton, Bermuda, June 9, 2011 - Seadrill has today entered into an agreement
with Keppel FELS Limited in Singapore to build a new semi-submersible self-
erecting tender rig (semi-tender). Total project price for the rig is estimated
at below US$200 million (including the drilling equipment set, project
management, spares, capitalized interest and operation preparation).
 
 The new rig is scheduled for delivery in the second quarter 2013 and will be
based on a similar design and specification as the semi-tender West Jaya, which
was delivered from the Keppel FELS yard in March this year and is contracted for
a minimum of two years. Similar to previous semi-tenders, the new unit is suited
for harsher environment and deepwater drilling operations in combination with
floating wellhead platforms such as Tension Leg Platforms and Spars.
 
The new unit is based on the KFELS SSDT 3600E design and adds to the seven semi-
tenders that Keppel has earlier built for Seadrill since the launch of the
design in 1994. The unit will feature a crane capacity of 250 tones, four mud
pumps and accommodation for 160 people.
 
Alf C Thorkildsen, Chief Executive Officer of Seadrill Management AS says, "We
are pleased to announce the addition of a new semi-tender to our existing fleet
of 19 tender rigs. The tender rig business has delivered excellent operational
results as well as outstanding economics over the last decade. Based on the
continued strength of the offshore drilling market we continue to see strong
growth and earnings potential for our business. The new semi-tender has a
favorable construction price and an equipment specification list that will meet
our customers' future needs. We have had very good experience with the Keppel
FELS yard and this design and we are confident that the new unit will be
delivered on time and within budget once again. "
 
Contact:
Esa Ikäheimonen
Chief Financial Officer
Seadrill Management AS
+47 51 30 99 19
 
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
 
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Source: Seadrill Limited via Thomson Reuters ONE
 
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