Sevan Drilling ASA: Change in the CFO Function

Chief Financial Officer (CFO) Jon Wilmann and Sevan Drilling ASA have today agreed the terms applicable for his resignation from Sevan Drilling ASA as Chief Financial Officer. Mr. Wilmann will leave his position by the end of this week, but will be available to the company for consultations in the months to come.

The function of Mr. Wilmann will be assumed by the company's CEO, Mr. Scott McReaken, effective from the date Mr. Wilmann leaves the company.

"Jon Wilmann has held the position as CFO since the company was listed on Oslo Axess in May 2011, and he has played a key role in obtaining financing for the expansion of Sevan Drilling. The company is grateful for Mr. Wilmann's contributions to the development of the company and wishes him the very best in his future endeavours", says Chairman of the board, Erling Lind.

For further information, please contact:

Scott McReaken, CEO, Sevan Drilling ASA
+47 91194651 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 to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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