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Main page → News room → Press releases

Rosneft and North Atlantic Drilling expand offshore partnership

Rosneft and North Atlantic Drilling Ltd. have entered into long-term offshore drilling contracts. The transaction contemplates employment of six offshore drilling rigs until 2022 with the purpose of carrying out Rosneft offshore projects, including harsh environment.

After the signing, Igor Sechin stated: "Entering into long-term offshore drilling agreements will allow Rosneft to ensure implementation of exploration and development of its harsh environment offshore license areas."

Alf Ragnar Lovdal, Chief Executive Officer of NADL says in a comment, "We are very pleased with the execution of these contracts, which is in line with the timetable agreed earlier this year. Our partner Rosneft has shown remarkable cooperation at every stage throughout this process. This milestone is testament to the ability of both NADL and Rosneft’s employees and we hope that further transactions can be concluded in a similar manner.”

Notes for Editors:

NADL is an offshore harsh environment drilling company with the focus on the North Atlantic basin. The company has nine drilling units in the fleet, including five semi-submersibles, a drillship, and three jack-up rigs. Seadrill Limited currently owns 70% of the outstanding shares and the company is listed on the NYSE and Norwegian OTC with a market capitalization of approximately US$2.3 billion.

Rosneft Information Division
Tel.: +7 (499) 517 88 97
July 30, 2014

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.