Sevan Driller:
Sevan Driller had a technical uptime of 99.2% in November 2011. We are finishing operation at the present location and will move to a new location in Santos Basin.
Sevan Brasil:
The construction of Sevan Brasil is progressing according to plan. Overall completion is 95 %; overall construction is 99.5% complete and overall commissioning is 82 % complete. We are now moving the rig into drydock to finish the work on the hull. Sea trials are scheduled for January 2012, and the window for heavy lift transport is mid-February to mid-March."
The rig remains on schedule to be delivered from Cosco Shipyard in first quarter 2012 and will commence operation under the 6 year charter contract with Petrobras in the second quarter 2012."
The information in this announcement is subject to the disclosure requirements of the Norwegian Securities Trading Act section 5-12 and/or the Oslo Børs -Continuing Obligations.
Sevan Drilling ASA is an international offshore drilling contractor specializing in the ultra deepwater segment. Sevan Drilling ASA is listed on Oslo Axess.
For further information, please contact:
Scott Kerr, CEO, Sevan Drilling ASA
+47 22330000 office
+47 99283890 mobile
Jon H. Wilmann, CFO, Sevan Drilling ASA
+47 22330000 office
+47 90560406 mobile