NADL - Rosneft Framework Agreement Extension
Hamilton, Bermuda, May 31, 2017 - On August 22, 2014, North Atlantic Drilling Ltd ("NADL") and Seadrill Limited ("Seadrill") announced that they had entered into a Framework Agreement with Rosneft Oil Company. In November 2014 the long stop date for closing this transaction was extended to the end of May 2015 and subsequently extended further to the end of May 2017.
Today, the parties have agreed to further extend the long stop date of the Framework Agreement until May 31, 2019.
During this time, NADL and Seadrill can continue to market the offshore drilling rigs and enter into binding contracts with third parties.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.