Seadrill Limited has secured a new contract for the LT-Super 116E jack-up rig West Freedom offshore Venezuela with Cardon IV Venezuela, an ENI SpA and REPSOL joint venture. The contract is for a firm period of 30 months plus an option for a 6 month extension at mutually agreed rates.

The potential revenue for the primary contract term is approximately US$222 million inclusive of an estimated $8.5 million of mobilization. The West Freedom is currently operating in Qatar and will likely be available to commence its charter in late September 2013.

About Seadrill
Seadrill is a leading offshore deepwater drilling company, aiming to be our customers' most important partner in making oil and gas available in a safe and cost-effective manner. The company operates a versatile fleet of 61 units that comprises drillships, jack-up rigs, semi-submersible rigs and tender rigs for operations in shallow to ultra-deepwater areas in harsh and benign environments.