SDRL - Update on Petrobras Contracts
(Thomson Reuters ONE) -
Hamilton, Bermuda, February 13, 2015 - At the time of its third quarter earnings
release in November 2014, Seadrill Limited ("Seadrill" or "the Company")
announced that Petrobras approval had been received for the extensions of its
ultra-deepwater semi-submersibles the West Taurus and West Eminence. Due to
recent developments within Petrobras, the Company no longer believes the
contracts will be concluded in the timeframe or on the previously approved
commercial terms. Consequently, Seadrill will remove US$1.1 billion from the
backlog reported in its third quarter earnings release. Seadrill continues to
work with Petrobras and its partners to find a mutually agreeable commercial
solution.
At the time of the third quarter earnings release Seadrill also announced
approval for contract awards on the Libra Field for the ultra-deepwater
drillships the West Tellus and West Carina. The final contracts have been
signed and commencement of operations is expected to begin in the second quarter
of 2015.
FORWARD LOOKING STATEMENTS
The statements described in this press release that are not historical facts are
forward-looking statements within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-
looking statements which could be made include, but are not limited to,
statements involving prospects for the Company , political and other
uncertainties, including significant governmental influence over many aspects of
local economies, expected revenues, capital expenditures, costs and results of
operations and contingencies and other factors discussed in the Company's most
recent annual report on the Form 20-F for the year ended December 31, 2013 and
in the Company's other filings with the SEC, which are available free of charge
on the SEC's website at www.sec.gov. Should one or more of these risks or
uncertainties materialize, or should underlying assumptions prove incorrect,
actual results may vary materially from those indicated. All subsequent written
and oral forward-looking statements attributable to the Company or to persons
acting on our behalf are expressly qualified in their entirety by reference to
these risks and uncertainties. You should not place undue reliance on forward-
looking statements. Each forward-looking statement speaks only as of the date of
the particular statement, and we undertake no obligation to publicly update or
revise any forward-looking statements.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Seadrill Limited via GlobeNewswire
[HUG#1894259]
Unternehmensinformation / Kurzprofil:
Datum: 13.02.2015 - 08:31 Uhr
Sprache: Deutsch
News-ID 371507
Anzahl Zeichen: 3422
contact information:
Town:
Hamilton
Kategorie:
Business News
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