Seadrill has announced that it has won a contract from Statoil for the semi-submersible drilling rig West Venture on the Norwegian Continental Shelf.

The five-year contract, valued at $756m, will keep the unit employed until August 2015.

Seadrill will start work on the new contract ahead of the expiry of its present contract with Statoil.

Statoil holds the option until January 2011 to extend the contract for up to seven years.