Mr. Fredriksen Never Sleeps –Orders HS/HE Jack-up Destined for NADL

Simultaneously with the Ship Finance sale-leaseback, John Fredriksen’s drilling entity, Seadrill Limited announced that it had reached agreement with Jurong shipyard in Singapore for the construction of an HS/HE jack-up rig of the Gusto MSC CJ70 150A design, which is similar to the Seadrill rig West Elara. The rig is projected to have a total project cost of $530 million, including project management, drilling and handling tools, spares and capitalized interest, and is scheduled to be completed at the end of the 3rd quarter 2013.

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