Seadrill Limited ("Seadrill" or the "Company") (NYSE:SDRL) today announced Sonadrill Holding Ltd ("Sonadrill"), its 50:50 joint venture with an affiliate of Sonangol E.P. ("Sonangol"), has been awarded a contract extension.

A seven-well priced option for the ultra-deepwater drillship Sonangol Quenguela has been exercised, extending operations in Angola by approximately 480 days and committing the rig into June 2028.

Seadrill earns a management fee for providing management, operational and technical support to Sonadrill.