Sevan Driller Completed

Maritime Activity Reports, Inc.

July 7, 2009

On June 28, the Sevan Driller, first circular drilling rig prepared for drilling at a water depth of almost 4,200 m was named at COSCO Shipyard Group's Qidong Shipyard. A grand naming ceremony was held at the site to celebrate the completion. The Sevan Driller is designed to drill wells of up to almost 13,500 m (40,000 ft) in water depths of up to nearly 4,200 m (12,500 ft) and has internal storage capacity designed to carry up to 150,000 barrels of oil.

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