Seadrill secures letter of intent for West Aquarius

Seadrill has been awarded a letter of intent by a major oil company for the deepwater semisubmersible West Aquarius.

Offshore staff

HAMILTON, Bermuda -- Seadrill has been awarded a letter of intent by a major oil company for the deepwater semisubmersible West Aquarius.

The contract has a firm duration of three years and an estimated value of $570 million.

TheWest Aquarius is under construction at the Daewoo Shipyard in South Korea and is scheduled for delivery at the end of 3Q 2008.

6/12/2007

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