SDRL announces contract award for the West Saturn

Seadrill Limited (SDRL or "the Company") has secured a firm contract for one well and one drill stem test with Statoil Brasil Óleo e Gas for the West Saturn in Brazil, the Company said in a press release.

The contract also includes a number of option wells to be drilled in blocks where Statoil has license and operatorship. West Saturn is expected to commence operations between December 2017 and January 2018. The backlog for the firm portion of the contract, is expected to be approximately $26 million. The West Saturn will be upgraded with a Managed Pressure Drilling ("MPD") system which is expected to be utilized as part of the upcoming work scope. The Saturn represents the fifth unit managed by Seadrill equipped with MPD equipment.

Seadrill is a leading offshore drilling contractor operating from five regional offices worldwide – Oslo, Dubai, Houston, Rio De Janeiro and Ciudad del Carmen. SDRL is incorporated in Bermuda and managed from London. The Company's versatile fleet of 68 rigs comprises drillships, jack-up, semi-submersibles and tender rigs for operations in shallow to ultra-deepwater areas in both harsh and benign environments.