Hamilton, Bermuda, May 4, 2018 - Reference is made to the public announcement by Sevan Drilling Ltd (the "Company") dated 16 October 2015 regarding Økokrim's investigation of the Company's subsidiary Sevan Drilling ASA in respect of payments made to agents in relation to drilling contracts originally awarded by Petrobras to Sevan Marine ASA in the period between 2005-2008.
The Company has been notified that Økokrim today has completed the investigation against Sevan Drilling ASA and the orginal charges have been dismissed.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.