SDRL - Operational update fourth quarter 2012

SDRL - Operational update fourth quarter 2012 
HAMILTON, NORWAY -- (Marketwire) -- 01/31/13 --  
Hamilton, Bermuda, January 31, 2013 - In the third quarter
financial report Seadrill estimated the downtime for the deepwater
rigs in operation to be 41 days for the fourth quarter. After closing
the quarter revised estimates show downtime has increasing to
approximately 100, days, mainly due to BOP issues on several of the
Company's rigs. 
In line with what the Company communicated in the third quarter
financial report, general and administrative costs have increased due
to the management transition process to London, as well as expenses
related to the development of one specific IT project. During the
transition process the general and administrative costs will be
US$10-20 million higher than what has been historically reported, but
is expected to be reduced after the transition process has been
finalized in the second half of 2013. 
The first quarter 2013 results will also be impacted by the West
Hercules taking longer than anticipated to be ready for its next
assignment. The rig commenced its new contract with Statoil on
January 31, 2013. 
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 [HUG#1674844] 
Analyst contact
Rune Magnus Lundetrae
Chief Financial Officer
Seadrill Management AS
+47 51 30 99 19 
Media contact
Alf Thorkildsen
Chief Executive Officer
Seadrill Management AS
+47 51 30 99 19
 
 
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