Seadrill Limited (“Seadrill” or "the Company") (OSE:SDRL, OTCPK:SDRLF) announces today that it has secured a contract with Petroleo Brasileiro S.A. (“Petrobras”) for work in the Búzios field offshore Brazil for the West Jupiter. The contract is for a firm term of 1,040 days with commencement expected in December 2022. Total contract value is approximately $264m (inclusive of mobilization revenue and additional services).

Seadrill’s Chief Executive Officer, Stuart Jackson, commented, “Petrobras is a long-standing and valued customer of Seadrill and signing a third contract with them this quarter is testament to our strong partnership and commitment to the Brazilian market. Seadrill is focused on growing our fleet in strategic basins where we see high growth potential, such as Brazil, where we are now the largest international drilling contractor.”