Sevan Drilling ASA: Operational Update for June 2012

Sevan Driller:
Sevan Driller had a technical uptime of 94.9% in June 2012. 

Sevan Brasil:
Sevan Brasil is in the final phase of the acceptance testing for Petrobras. We expect to leave Rio de Janeiro by the end of this week for sea trials which are expected to take 5-7 days to complete and acceptance of the rig should be before mid- July.

Sevan Drilling Rig no 3:
Construction of Sevan rig no 3 is progressing according to plan. Erection of main hull is underway while fabrication of drill-floor and living quarter have started.

Sevan Drilling Rig no 4:
Construction of Sevan rig no 4 is also progressing according to plan. Erection of lower part of main hull is ongoing.

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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