SDRL - Seadrill receives term extension for semi-submersible

SDRL - Seadrill receives term extension for semi-submersible West Leo 
HAMILTON, BERMUDA -- (Marketwire) -- 01/17/13 --  Tullow plc has
exercised its contractual option to extend the contract for the
ultra-deepwater semi-submersible rig West
Leo by two years from  May
2016 to May 2018. The West Leo is expected to carry
out operations in
West Africa until the end of its contract in May 2018. 
The potential contract revenue for the extension is estimated to
approximately US$450 million based on 97 percent utilization and
includes a performance bonus arrangement. This brings the total
estimated contract value to US$1.13 billion. 
In line with the omnibus agreement terms and conditions between
Seadrill and
Seadrill Partners, Seadrill is obligated to offer the
West Leo to Seadrill Partners at a fair market price. 
This information is subject of the disclosure requirements pursuant
to section
5-12 of the Norwegian Securities Trading Act. 
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants
that: 
(i) the releases contained herein are protected by copyright and    
other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and     
originality of the information contained therein. 
Source: Seadrill Limited via Thomson Reuters ONE 
[HUG#1671073] 
Media contact
Rune Magnus Lundetrae
Chief Financial Officer
Seadrill Management AS
+47 51 30 91 26 
Analyst contact
Ragnvald Kavli
Investor Relations Manager
Seadrill Management AS
+47 51 30 91 26
 
 
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