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Sevan Drilling Ltd: Press Release

Reference is made to the Company's press release dated 29 June, 2015, regarding Brazilian authorities' investigation into corrupt activities involving Petrobras. 

In 2011, Sevan Drilling was separated out from the 100% ownership of Sevan Marine ASA and listed separately on the Oslo stock exchange. The Company notes that Sevan Marine ASA has today issued a Stock Exchange notice advising that its Board has received the investigation report from Advokatfirmaet Selmer DA and has decided to hand it over to the Norwegian authority for investigation and prosecution of economic and environmental crime ("ØKOKRIM").


Against this background, the Company reports that Sevan Drilling ASA has been accused of breaches of Sections 276 a and 276 b of the Norwegian Criminal Code in respect of payments made in connection with the performance during 2012 to 2015 of drilling contracts originally awarded by Petrobras to Sevan Marine ASA in the period between 2005-2008. In connection with the accusation, ØKOKRIM has performed a search and seizure in the Company's offices. The Company is co-operating with the authorities in identifying and making available all documents, which the authorities consider relevant.

The Company will continue to cooperate with authorities in all relevant jurisdictions.
 
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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