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Sevan Drilling ASA: Sevan Brasil - offhire

In connection with testing of the blowout preventer ("BOP") on Sevan Brasil, we experienced problems with the BOP control systems. We are currently preparing to pull the BOP to the surface to investigate and make required repair. We will come back with more information when we have more knowledge of the problems.

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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