Sdrl -- Seadrill Limited Announces Contract Award For The West Phoenix

 
TIDMSDRL 
 
 
   Hamilton, Bermuda, December 20, 2019 - Seadrill Limited ("Seadrill") has 
secured a multiple well contract with Vår Energy AS for the West 
Phoenix for work on the Balder re-development project in Norway. Total 
contract value for the firm portion of the contract is expected to be 
approximately $302 million with commencement expected at the end of 2Q 
2021 and running through 3Q 2023. In addition to the base rate a well 
based performance bonus mechanism is included in the award giving 
potential for incremental revenue.  The contract is subject to authority 
approval of the Balder Future plan for development and operations (PDO). 
 
 
   FORWARD LOOKING STATEMENTS 
 
   This news release includes forward looking statements. Such statements 
are generally not historical in nature, and specifically include 
statements about the Company's plans, strategies, business prospects, 
changes and trends in its business, the markets in which it operates and 
its restructuring efforts. These statements are made based upon 
management's current plans, expectations, assumptions and beliefs 
concerning future events impacting the Company and therefore involve a 
number of risks, uncertainties and assumptions that could cause actual 
results to differ materially from those expressed or implied in the 
forward-looking statements, which speak only as of the date of this news 
release. Consequently, no forward-looking statement can be guaranteed. 
When considering these forward-looking statements, you should keep in 
mind the risks described from time to time in the Company's filings with 
the Securities and Exchange Commission, including its Annual Report on 
Form 20-F (File No. 333-224459). The Company undertakes no obligation to 
update any forward looking statements to reflect events or circumstances 
after the date on which such statement is made or to reflect the 
occurrence of unanticipated events. New factors emerge from time to time, 
and it is not possible for the Company to predict all of these factors. 
Further, the Company cannot assess the impact of each such factor on its 
business or the extent to which any factor, or combination of factors, 
may cause actual results to be materially different from those contained 
in any forward looking statement. 
 
   This information is subject to the disclosure requirements pursuant to 
Section 5-12 the Norwegian Securities Trading Act. 
 
 
 
 

(END) Dow Jones Newswires

December 20, 2019 16:25 ET (21:25 GMT)

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