Sevan Drilling ASA: Operational Update for May 2013

Sevan Driller:
Sevan Driller achieved a technical uptime of 80%. A small flow of mud from the well caused five days downtime in May as announced 28 May, 2013. As previously reported, a main shaft bearing needs to be replaced and is estimated to cause up to seven days downtime. The bearing will be replaced by the end of well which is estimated to be in June.

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

Sevan Louisiana:
Construction of Sevan Louisiana is progressing according to plan and reached 86% overall completion. Commissioning is progressing according to plan. A naming ceremony will be held for Sevan Louisiana at Cosco Quidong shipyard on 20 August, 2013.

Sevan Drilling Rig no 4:
Construction of Sevan Drilling Rig no. 4 is also progressing according to plan and reached 64% 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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