Seadrill Limited (Seadrill) (NYSE: SDRL) today announced Sonadrill Holding Ltd ("Sonadrill"), its 50:50 joint venture with an affiliate of Sonangol E.P. (Sonangol), has been awarded a contract extension.

A seven-well priced option for the ultra-deepwater drillship Sonangol Quenguela has been exercised, extending operations in Angola by approximately 480 days and committing the rig into June 2028.

Seadrill earns a management fee for providing management, operational and technical support to Sonadrill.

About Seadrill

Seadrill is setting the standard in deepwater oil and gas drilling. With its modern fleet, experienced crews, and advanced technologies, Seadrill safely, efficiently, and responsibly unlocks oil and gas resources for national, integrated, and independent oil companies.

About Sonangol

Sonangol — Sociedade Nacional de Combustíveis de Angola, E.P. — is the state-owned oil company, responsible for the management of oil and natural gas exploration on the subsoil an​d continental shelf of Angola, and is responsible for the exploration, production, manufacturing, transportation and marketing of hydrocarbons in Angola. We operate in an efficient safe and transparent manner, and are committed to environmental protection. Our purpose is to promote the harmonious development of the country and reinforce sustainable use of hydrocarbon resources.