Seadill's West Aquarius and West Polaris receive contract extensions

ExxonMobil has exercised the option to extend the contracts for the semisubmersible West Aquarius and deepwater drillship for West Polaris from three to four years, Seadrill says.

Offshore staff

HAMILTON, Bermuda -- ExxonMobil has exercised the option to extend the contracts for the semisubmersible West Aquarius and deepwater drillship for West Polaris from three to four years, Seadrill says.

Estimated contract value forWest Aquarius for the full four-year period is about $750 million, up from about $579 million for the three-year period, including escalation from initial contract award up to present date.

The contract value for West Polaris for the additional year is about $219 million, bringing the total contract value for West Polaris for the four-year period to about $815 million, including escalation from initial contract award up to present date.

West Polaris is currently under construction at Samsung Shipyard in South Korea, and West Aquarius is currently under construction at DSME (Daewoo Shipbuilding and Marine Engineering) in South Korea.

04/17/2008

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