Seadrill Limited : SDRL - Seadrill orders two jack-ups for delivery in 2015

 Seadrill Limited : SDRL - Seadrill orders two jack-ups for delivery in 2015

Hamilton, Bermuda, January 31, 2013 - Seadrill has entered into an agreement
for the construction of two high specification jack-up drilling rigs with
Dalian Shipbuilding Industry Offshore Inc. (DSIC Offshore) in China. The new
units are scheduled for delivery during the first and second quarter 2015, and
the estimated total project price is approximately US$230 million (including
project management, capitalized interest, drilling and handling tools, spares
and operation preparations) per rig, with tail-heavy payment terms.

The two new units will be based on the F&G JU2000E design, with water depth
capacity of 400ft and drilling depth of 30,000ft. Seadrill has in addition
received fixed price option agreements to construct an additional two units at
Dalian, with delivery in the third and fourth quarter 2015. The new jack-ups
are of the same design as the four jack-ups currently under construction by
Seadrill at Dalian and Jurong, Singapore.

John Fredriksen, Chairman and President of Seadrill Limited, says in a
comment, "These newbuilds position us for additional growth in a strengthening
jack-up market, providing further earnings upside for Seadrill. The premium
jack-up market continues to demonstrate strength as evidenced byincreasing
dayrates and utilizations. Customers continue show preference for newer units
from drilling contractors with proven track records of safe and efficient
operations.Currently 312 jack-ups or 65% of the total fleet of 483 jack-ups
are older than 25 years. These two new firm orders increases our fleet of
modern jack-ups to 25 rigs with an average age of 3 years, and further
strengthens our position as the leading operator of premium modern,
high-quality drilling units.

Media contact
Fredrik Halvorsen
Chief Executive Officer
Seadrill Management Ltd
+44 20 7284 5530

Analyst contact
Rune Magnus Lundetræ
Chief Financial Officer
Seadrill Management Ltd
+47 51 30 91 26

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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