Seadrill contracts for new rig

Offshore staff

Seadrill has contracted Malaysia Marine & Heavy Engineering Sdn Bnd to build a self-erecting tender rig, T-11.

The new barge unit is scheduled for delivery 4Q08 at a cost of $100 million, including the derrick equipment set. Seadrill will own 100%.

The tender rig will be based on a similar design and same specifications as Seadrill's T-10. The design is aimed at production drilling in selected shallow and deepwater areas.

6/22/06