Seadrill confirms West Polaris contract

Offshore staff

HAMILTON, Bermuda -- ExxonMobil has signed a long-term contract with Seadrill Ltd. for the ultra-deepwater drillship West Polaris to carry out international exploration activities.

The contract has a firm duration of three years, with an estimated value of $570 million. About one third of the contract duration will be used by other operators, primarily Ophir Energy.

TheWest Polaris is under construction at the Samsung Shipyard in South Korea and is scheduled for delivery at the end of the 2Q 2008.

1/10/2007