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Sevan Drilling ASA: Operational Update for first Quarter and for April 2013

SEVAN DRILLING ASA - Operational Update for first Quarter and for April 2013

Sevan Driller:
Sevan Driller achieved a technical uptime of 99.7% in April 2013. In Q1 2013 Sevan Driller had a technical uptime of 72.7% and a commercial uptime of 69.8%.

Sevan Brasil:
Sevan Brasil achieved a technical uptime of 96.0 % in April 2013. Following the settlement of disputed hours related to the repair of an electrical switchboard, the commercial uptime for Sevan Brasil in January 2013 is 80.5%. As previously reported, the technical uptime for January was 97%. In Q1 2013 Sevan Brasil had a technical uptime of 92.4% and a commercial uptime of 95.4%.

Sevan Louisiana:
Construction of Sevan Louisiana is progressing according to plan and has reached 79% overall completion. Commissioning is progressing according to plan.

Sevan Drilling rig no 4:
Construction of Sevan Drilling rig no 4 is also progressing according to plan and has reached 62% overall completion. Drill-floor, living quarter and derrick are integrated into the main hull. 

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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