Rosneft Delays NADL Rig Deal Till 2017

Rosneft and North Atlantic Drilling Limited have agreed to extend the termination date of the Framework Agreement signed on August 20, 2014 until May 31, 2017.

Additionally, the parties have agreed to renegotiate the terms and characteristics of the transactions contemplated in the Framework Agreement and the terms of the related offshore drilling contracts.

Both parties reserve the right to terminate the Framework Agreement and /or any offshore drilling contracts at no cost.