SDRL - Seadrill secures a five-year contract for jack-up newbuild
(Thomson Reuters ONE) -
Hamilton, Bermuda, April 14, 2010 - Seadrill has received a letter of intent
from Statoil for a harsh environment jack-up drilling rig for the Norwegian
Continental Shelf.
The letter of intent represents a five-year contract with an estimated contract
value of approximately US$650 million, (including a mobilization fee of US$24
million), and start-up is scheduled for the third quarter 2011. Statoil has the
option to extend the contract with one to four years, on the same terms and
conditions.
The jack-up rig of the Gusto MSC CJ70 150A design is currently under
construction at the Jurong shipyard in Singapore. The rig is scheduled to be
completed at the end of the first quarter 2011. Seadrill will exercise its
option to purchase the drilling unit from the Jurong shipyard for approximately
US$350 million, excluding owner furnished equipment, loose drilling equipment,
capitalized interest and project management.
The rig is an advanced, ultra large, harsh environment, high specification
drilling unit, specifically built for Norwegian requirements and matching the
specification of the largest jack-up drilling units in the world. The unit
provides means to operate in water depth up to 150 meters with a higher variable
deck load and a higher operating efficiency compared to previous jack-up
generations, while the size of the unit allows for additional opportunities
within areas like logistics, well testing and early production.
Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS says, "This
assignment strengthens the industrial cooperation between Seadrill and Statoil,
benefiting the development of the Norwegian Continental Shelf, bringing a new
and advanced drilling unit into the region. This is our third consecutive term
contract with Statoil within the last four weeks. The three contracts have a
total estimated value of approximately US$1.8 billion, making Statoil one of
Seadrill's prime clients globally."
Contact:
Trond Brandsrud,
Chief Financial Officer
Seadrill Management AS
+47 90 11 46 63
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1403415]
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Datum: 14.04.2010 - 05:03 Uhr
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News-ID 1012839
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