Seadrill Secures New Contract in Indonesia

Seadrill, a Norwegian major shareholder in Eastern Drilling ASA and supplier of services to the oil and gas industry, said 21 December 2006 that ConocoPhillips has signed a letter of intent to award a three-year contract for development drilling in Indonesia for the fourth quarter of 2008 or the first quarter of 2009.
Estimated contract signed by ConocoPhillips, Houston based international integrated energy company is approximately US $178 million. Seadrill has the option to use either West Berani or West Setia for this assignment.
The final contract is subject to agreement on contractual terms as well as Indonesian governmental approval.

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