Sevan Drilling ASA: Sevan Driller - Update

Reference is made to the press release dated 16 April, 2012. The control line has been replaced and the repair is completed. After having pressure tested the BOP, Sevan Driller was back on full day rates at 1.30 am Brazilian time on Sunday, 22 April, 2012. Total downtime related to this incident is approximately 7 days.

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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