Secures contract extention for ultra-deepwater rig

Seadrill has been awarded a six months contract extention for the ultra-deepwater semi-submersible drilling rig West Hercules by Husky Oil China Ltd.

The estimated value of the contract extention is approximately US$90 million.


The extention secures continued employment for the ultra-deepwater unit
offshore China until May 2012. 


Husky Oil China Ltd. has the right to extend the assignment by another six
months on the same terms and conditions.



Alf C Thorkildsen, Chief Executive Officer in Seadrill Management AS says,
"We are pleased to add further earning visibility for our ultra-deepwater rig fleet
at what we believe is competitive terms and conditions given the current market
sentiment. Our strong contract backlog gives us a unique opportunity to focus
our efforts on safety and operational excellence ".