Sevan Drilling ASA Information

Sevan Drilling is an international drilling contractor specializing in the ultra deepwater (UDW) segment. The Company owns and operate two rigs of the cylindrical Sevan design. Both rigs have long term charter contracts in Brazil. The Company has ordered two additional newbuilds expected for delivery in fourth quarter 2013 and second quarter 2014. Sevan Drilling has an experienced management team and operating organization which is well positioned for further growth. The company has a robust financing at attractive terms, solid contract coverage and cash flows. The four high-end UDW rigs have a unique and cost effective design and are built for safe and efficient operations in ultra deep waters worldwide – including Brazil, West Africa and the US Gulf of Mexico. The Company has a perpetual license with Sevan Marine for use of the Sevan design for drilling purposes. Long experience and strong focus on operating excellence and quality, health, safety and environment (“QHSE”) characterize both the management and the operating organization, which comprises approximately 481 employees based in Brazil, Norway and China.