Offshore deepwater drilling company Seadrill has won a new contract extension from ExxonMobil for the ultra-deepwater, semi-submersible rig West Aquarius.

The two-year contract will yield an estimated $422m in revenue for the company, including $35m for the mobilisation and operational preparation period.

The extension period will primarily involve operations in the North Atlantic area.

Mobilisation of the rig for operational activity will take 106 days in addition to the firm extension period

Furthermore, ExxonMobil has the option to extend the contract period for up to two years more.