The contract also includes project management, capitalized interest, drilling and handling tools, spares and operation preparations, with tail-heavy payment terms.

To be delivered during the second and third quarters of 2016, the units will be based on the F&G JU2000E design, with water and drilling depth capacities of 400ft and 30,000ft, respectively.

The shipyard is currently building ten jack-ups for the company, of which two are set for delivery in 2013, five in 2015 and three in 2016.

Seadrill’s construction program currently includes 24 units, including nine drillships, two harsh environment semi-submersibles, and 13 high specification jack-ups.

Seadrill CEO Per Wullf said, "The market for high specification jack-up units is poised for a significant uplift in dayrates and we continue to invest in order to put Seadrill’s shareholders in a prime position to benefit."