Seadrill nets $497-million rig contract

LAGOS, August 13, 2014 – Seadrill has signed a two-year contract with a one-year option for its new-build West Saturn drillship offshore Nigeria with ExxonMobil. The drillship, due for delivery in September 2014, will earn the drilling contractor and its indigenous partner Field Offshore Design Engineering Nigeria a potential $497 million for the initial two-year period.

The drillship will become Seadrill’s third active in Nigeria, following its $1.1-billion five-year deal with Total for the West Jupiter drillship in June. The West Saturn will work on Exxon’s Erha North phase two project in offshore OML 133, which is expected to come on stream in 2015.

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