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Sevan Drilling ASA: Final Approval of Annual Accounts 2011

The Board of Sevan Drilling ASA has approved the annual accounts for 2011. Except for minor adjustments, there are no changes in the income statement or equity compared with the Preliminary annual figures disclosed 16 February 2012. The Preliminary annual figures are available on the corporate web site www.sevandrilling.com.

Sevan Drilling ASA's annual report for 2011 will be published shortly on the corporate web site www.sevandrilling.com.

For further information, please contact:

Scott Kerr, CEO, Sevan Drilling ASA
+47 99283890 mobile

Jon H. Wilmann, CFO, Sevan Drilling ASA
+47 90560406 mobile

About Sevan Drilling:
Sevan Drilling ASA is an international offshore drilling contractor specializing in the ultra deepwater segment. Sevan Drilling ASA is listed on Oslo Børs.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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