Sevan Drilling ASA: Monthly Operational Update for March 2013

Sevan Driller:
Sevan Driller had a technical uptime of 83%. The downtime for the month was due to testing of the blow out preventer ("BOP") after the replacing of seals which took place in February.  

Sevan Brasil:
Sevan Brasil achieved a technical uptime of 99%. 

Sevan Louisiana (formerly Sevan Drilling rig no 3):
Construction of Sevan Louisiana is progressing according to plan and reached 70% overall completion. Commissioning of the first systems, diesel generators, started in January 2013, and is progressing according to plan.

Sevan Drilling rig no 4:
Construction of Sevan Drilling rig no 4 is also progressing according to plan and reached 56% overall completion.

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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