Market Update. 27 th of May August 2013

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1 Market Update 27 th of May August 2013

2 Contract Status Floaters NCS Name Contractor Operator Next Operators Country Next Countries Current Gen DP M BOP Rate J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D WEST NAVIGATOR Seadrill Norway 5 Y N TRANSOCEAN SPITSBERGEN Transocean Statoil Norway Y Y 15 # # # # # # WEST RIGEL Seadrill Singapore Singapore 6 Y Y 15 # # # # # # TRANSOCEAN SEARCHER Transocean BG Group Edison Norway (Norway) / Norway N Y 15 # # # # # # # WEST VENTURE Seadrill Statoil Norway Y N 15 # # # # # # # DEEPSEA ATLANTIC Odfjell Drilling AS Statoil Norway Y Y 15 # # # # # # # # TRANSOCEAN BARENTS Transocean Shell Norway (Norway) Y Y 15 # # # # # # # # # BREDFORD DOLPHIN Fred Olsen Energy AGR AGR Norway Norway / (Norway) N Y 10 # # # # # # # # # # COSLPROSPECTOR COSL Europe CNOOC China China 5 Y Y 15 # # # # # # # # # # # # NORTH DRAGON North Sea Rigs China 5 Y Y 15 # # # # # # # # # # # # ISLAND INNOVATOR Odfjell Drilling AS Lundin Oil Norway (Norway) / Norway Y Y 15 # # # # # # # # # # # # SONGA TRYM Songa Offshore Statoil Statoil Norway UK / Norway N Y 10 # # # # # # # # # # # # # # LEIV EIRIKSSON Ocean Rig ASA RMN Norway (Norway) / Norway Y Y 15 # # # # # # # # # # # # # # # STENA MIDMAX Stena Drilling South Korea 6 Y Y 15 # # # # # # # # # # # # # # # # # TRANSOCEAN WINNER Transocean Det Norske Oljeselskap Det Norske Oljeselskap Norway Norway N Y 15 # # # # # # # # # # # # # # # # # # WEST ALPHA Seadrill ExxonMobil Norway N Y 15 # # # # # # # # # # # # # # # # # # # COSLPIONEER COSL Europe Statoil Norway (Norway) Y Y 15 # # # # # # # # # # # # # # # # # # # TRANSOCEAN ARCTIC Transocean RMN OMV Norway Norway N Y 15 # # # # # # # # # # # # # # # # # # # # # SONGA DELTA Songa Offshore Statoil Statoil Norway Norway N Y 15 # # # # # # # # # # # # # # # # # # # # # SONGA DEE Songa Offshore Statoil Norway Norway N Y 15 # # # # # # # # # # # # # # # # # # # # # # STENA DON Stena Drilling Statoil Norway Norway Y N 15 # # # # # # # # # # # # # # # # # # # # # # # BEACON ATLANTIC North Sea Rigs China 5 Y Y 15 # # # # # # # # # # # # # # # # # # # # # # # # WEST HERCULES Seadrill Statoil / Statoil Norway / CanadaNorway / Y N 15 # # # # # # # # # # # # # # # # # # # # # # # # # SCARABEO 8 Saipem S.p.A. ENI Norway Norway Y Y 15 # # # # # # # # # # # # # # # # # # # # # # # # # BIDEFORD DOLPHIN Fred Olsen Energy Statoil Norway N Y 10 # # # # # # # # # # # # # # # # # # # # # # # # # # # DEEPSEA BERGEN Odfjell Drilling AS Statoil Statoil Norway Norway N Y 15 # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # SCARABEO 5 Saipem S.p.A. Statoil Norway Norway Y Y 15 # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # BORGLAND DOLPHIN Fred Olsen Energy RMN (Repsol) / RMN Norway (Norway) / Norway N Y 15 # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # COSLINNOVATOR COSL Europe Statoil Norway Norway Y Y 15 # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # COSLPROMOTER COSL Europe Statoil Norway Norway Y Y 15 # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # SONGA EQUINOX (CAT D I) Songa Offshore Statoil South Korea Norway 6 Y Y 10 # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # SONGA ENDURANCE (CAT D II) Songa Offshore Statoil South Korea Norway 6 Y Y 10 # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # SONGA ENCOURAGE (CAT D III) Songa Offshore Statoil South Korea Norway 6 Y Y 10 # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # SONGA ENABLER (CAT D IV) Songa Offshore Statoil South Korea Norway 6 Y Y 10 # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # FIRM CONTRACT OPTION CONSTRUCTION/YARD NEWBUILDINGS 2

3 Contract Status & Expected demand NCS How will Supply be adjusted? 3

4 Average Dayrates - NCS 4

5 Contract Status Floaters UKCS Name Contractor Status Operator Next Operators Country J F M A M J J A S O N D J F M A M J J A S O N D BORGNY DOLPHIN Fred Olsen Energy Cold Stacked UK 2 N Y OCEAN VANGUARD Diamond Offshore Cold Stacked UK 3 N Y OCEAN NOMAD Diamond Offshore Cold Stacked UK 2 N Y 10 # # OCEAN PRINCESS Diamond Offshore Cold Stacked UK 2 N Y 15 # # TRANSOCEAN PROSPECT Transocean On Contract - New Contract ConocoPhillips UK N Y 15 # # # # # OCEAN GUARDIAN Diamond Offshore On Contract - Extension Shell UK N Y 15 # # # # # # # WEST PHOENIX Seadrill On Contract - Extension Total UK Y Y 15 # # # # # # # OCEAN VALIANT Diamond Offshore On Contract - New Contract Premier Oil UK UK N Y # # # # # # # PARAGON MSS1 (N TON VAN LANGEVELD)Paragon Offshore On Contract - New Contract Nexen Nexen UK UK N Y 10 # # # # # # # # # # # # SEDCO 711 Transocean On Contract - Extension Talisman UK N Y 15 # # # # # # # # # # # # WILHUNTER Awilco On Contract - Extension Hess UK (UK) N Y 15 # # # # # # # # # # # # SEDCO 714 Transocean On Contract - New Contract Total UK N Y 15 # # # # # # # # # # # # # # SEDCO 704 Transocean On Contract - New Contract Maersk Oil Maersk Oil UK UK N Y 15 # # # # # # # # # # # # # # BYFORD DOLPHIN Fred Olsen Energy On Contract - Extension BP UK (UK) / UK N Y 15 # # # # # # # # # # # # # # # # STENA SPEY Stena Drilling On Contract - Exercised EnQuest Option UK N Y 15 # # # # # # # # # # # # # # # # # # # # # BLACKFORD DOLPHIN Fred Olsen Energy On Contract - New Contract Nexen Chevron UK UK N Y 15 # # # # # # # # # # # # # # # # # # # # # # # # PAUL B. LOYD JR. Transocean On Contract - Extension BP UK UK N Y 15 # # # # # # # # # # # # # # # # # # # # # # # # WILPHOENIX Awilco On Contract - New Contract Apache UK UK N Y 15 # # # # # # # # # # # # # # # # # # # # # # # # OCEAN PATRIOT Diamond Offshore On Contract - New Contract Shell UK UK N Y 15 # # # # # # # # # # # # # # # # # # # # # # # # TRANSOCEAN LEADER Transocean On Contract - New Contract EnQuest UK N Y 15 # # # # # # # # # # # # # # # # # # # # # # # # BOLLSTA DOLPHIN Fred Olsen Energy Under Construction / Waiting for Contract Chevron South Korea UK / (UK) 7 Y Y 15 # # # # # # # # # # # # # # # # # # # # # # # # DEEPSEA ABERDEEN Odfjell Drilling AS Transit / Not available BP UK UK 6 Y Y 15 # # # # # # # # # # # # # # # # # # # # # # # # Next Countries Current Rate Gen DP M BOP FIRM CONTRACT OPTION CONSTRUCTION/YARD NEWBUILDINGS 5

6 Contract Status & Expected demand - UKCS 6

7 Average Dayrates - UKCS 7

8 Opportunities NCS Floaters Statoil - Johan Sverdrup 3yr. Firm. Commencement Q Det norske Alvheim - 4 wells firm (250 days). Commencement 2 nd half Det norske plans to award in late June. Wintershall Maria 600 days. Commencement in Q RWE Dea Zidane 4 wells firm (250 days). Other Independent Operators considering programs for When will Statoil contract more rig s? 8

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