North Atlantic Drilling Ltd ("the Company") has been awarded a firm one well extension plus one optional well from Statoil Petroleum AS ("Statoil") for the jack-up West Elara. The work will commence in direct continuation of West Elara's existing contract with Statoil and the backlog for the firm portion of the extension is estimated to be US$10 million.The West Elara has worked for Statoil since 2011 and the Company is pleased to continue this long-term relationship.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About North Atlantic Drilling Ltd.
North Atlantic Drilling is a leading offshore harsh environment 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 has a fleet of eight harsh environment units in operation and one new build under construction. North Atlantic Drilling has some 600 skilled and highly competent employees.
North Atlantic Drilling is a 70.4 percent owned subsidiary of Seadrill Limited, and has its shares listed on the NYSE.
About Statoil
Statoil ASA (OSE: STL, NYSE: STO) is an international energy company with operations in 36 countries. Building on 40 years of experience from oil and gas production on the Norwegian continental shelf, we are committed to accommodating the world's energy needs in a responsible manner, applying technology and creating innovative business solutions. We are headquartered in Stavanger, Norway, with approximately 23,000 employees worldwide, and are listed on the Oslo and New York stock exchanges.