Seadrill Gets Contract Extensions

Seadrill has been awarded a contract by Total for extension of the production drilling assignment for the self-erecting semi-tender rig West Menang. The contract extension has a duration of three years. The estimated contract value is approximately $126 million. The commencement of the new contract is scheduled for January 2008, in direct continuation of the existing contract. West Menang is currently operating offshore Congo, West Africa. The self-erecting tender rig T8 has been awarded a one year contract extension by Total. The contract is expected to commence in May 2007, in direct continuation of current contract commitments. Estimated contract value is $ 31 million. Total has an option to further extend the contract by one year, at mutually agreed terms.