Sevan Drilling ASA: Operational Update for July 2012

Sevan Driller:
Sevan Driller had a technical uptime of 98.1% in July 2012. 

Sevan Brasil:
Sevan Brasil has of 24 July been accepted and commenced work under its six year contract with Petrobras in Brazil. The rig is now in process of loading up for the first well and will shortly start moving to its first well location and will begin drilling operations under the direction of Petrobras.

Sevan Drilling Rig no 3:
Construction of Sevan Drilling 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 Drilling 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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