Edgar Filing: Ensco plc

form11kmltnat2010.htm

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 11-K

(Mark One)

ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2010

TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 1-8097

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

Ensco Multinational Savings Plan

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

Ensco plc

6 Chesterfield Gardens

London, England W1J 5BQ

ENSCO MULTINATIONAL SAVINGS PLAN

TABLE OF CONTENTS TO FINANCIAL STATEMENTS

AND SUPPLEMENTAL INFORMATION


Financial Statements:

Report of Independent Registered Public Accounting Firm	1

Statement of Net Assets Available for Plan Benefits as of December 31, 2010	2

Statement of Net Assets Available for Plan Benefits as of December 31, 2009	3

Statement of Changes in Net Assets Available for Plan Benefits Year Ended December 31, 2010	4

Statement of Changes in Net Assets Available for Plan Benefits Year Ended December 31, 2009	5

Notes to Financial Statements	6

Supplemental Information:

Schedule I - Investments as of December 31, 2010	12

Signatures	13

Exhibits:

Consent of Independent Registered Public Accounting Firm

Report of Independent Registered Public Accounting Firm

To the Trustees and Plan Administrators of

The Ensco Multinational Savings Plan:

We have audited the accompanying statements of net assets available for plan benefits of the Ensco Multinational Savings Plan as of December 31, 2010 and 2009 and the related statements of changes in net assets available for plan benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits.

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. An audit includes consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan's internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the Ensco Multinational Savings Plan as of December 31, 2010 and 2009, and the changes in its net assets available for plan benefits for the years then ended in conformity with accounting principles generally accepted in the United States of America.

Our audits were conducted for the purpose of forming an opinion on the financial statements referred to above. The supplemental schedule of Schedule I - Investments as of December 31, 2010 is presented for the purpose of additional analysis and is not a required part of the financial statements. Such information has been subjected to the auditing procedures applied in the audit of the financial statements and, in our opinion, is fairly stated in all material respects in relation to the financial statements referred to above taken as a whole.

/s/ Whitley Penn LLP

Dallas, Texas

March 29, 2011

ENSCO MULTINATIONAL SAVINGS PLAN

STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS

AS OF DECEMBER 31, 2010

	Total	Ensco plc American Depositary Shares	Invesco AIM US Dollar Liquidity Portfolio	MFS Meridian Global Equity Fund	Pioneer Funds- North American Basic Value	Templeton Global Bond Fund	Skandia Total Return USD Bond Fund	MFS Meridian Global Total Return Fund	Legg Mason Global Funds- Royce Smaller Companies	Cash
ASSETS:
Investments at fair value:
Other investments (cost $3,916,858)	$4,374,368	$ --	$1,504,777	$662,645	$519,488	$519,634	$458,692	$412,248	$296,884	$ --
Ensco plc American depositary shares (cost $1,178,384)	1,457,648	1,457,648	--	--	--	--	--	--	--	--
Total investments	5,832,016	1,457,648	1,504,777	662,645	519,488	519,634	458,692	412,248	296,884	--

Cash	133,818	--	--	--	--	--	--	--	--	133,818
Receivables:
Employer contributions	1,241,995	175,769	496,308	137,983	90,001	95,407	94,726	82,623	69,178	--

NET ASSETS AVAILABLE FOR PLAN BENEFITS	$7,207,829	$1,633,417	$2,001,085	$800,628	$609,489	$615,041	$553,418	$494,871	$366,062	$133,818

The accompanying notes are an integral part of these financial statements.

ENSCO MULTINATIONAL SAVINGS PLAN

STATEMENT OF NET ASSETS AVAILABLE FOR PLAN BENEFITS

AS OF DECEMBER 31, 2009

	Total	Ensco plc American Depositary Shares	Invesco AIM US Dollar Liquidity Portfolio	MFS Meridian Global Equity Fund	Pioneer Funds- North American Basic Value	Templeton Global Bond Fund	Skandia Total Return USD Bond Fund	MFS Meridian Global Total Return Fund	Legg Mason Global Funds- Royce Smaller Companies	Cash
ASSETS:
Investments at fair value:
Other investments (cost $1,993,463)	$2,263,082	$ --	$ 788,725	$330,059	$308,105	$273,828	$221,243	$219,730	$121,392	$ --
Ensco plc American depositary shares (cost $619,612)	830,859	830,859	--	--	--	--	--	--	--	--
Total investments	3,093,941	830,859	788,725	330,059	308,105	273,828	221,243	219,730	121,392	--

Cash	58,278	--	--	--	--	--	--	--	--	58,278
Receivables:
Employer contributions	1,224,705	179,827	539,465	123,806	84,814	80,122	77,625	89,835	49,211	--

NET ASSETS AVAILABLE FOR PLAN BENEFITS	$4,376,924	$1,010,686	$1,328,190	$453,865	$392,919	$353,950	$298,868	$309,565	$170,603	$58,278

The accompanying notes are an integral part of these financial statements.

ENSCO MULTINATIONAL SAVINGS PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE

FOR PLAN BENEFITS

YEAR ENDED DECEMBER 31, 2010

	Total		Ensco plc American Depositary Shares		Invesco AIM US Dollar Liquidity Portfolio		MFS Meridian Global Equity Fund		Pioneer Funds- North American Basic Value		Templeton Global Bond Fund		Skandia Total Return USD Bond Fund		MFS Meridian Global Total Return Fund		Legg Mason Global Funds- Royce Smaller Companies		Cash
ADDITIONS TO NET ASSETS ATTRIBUTED TO:
Investment income:
Interest and dividends	$ 29,585		$ 28,985		$ 436		$ --		$ --		$ --		$ --		$ --		$ --		$ 164
Realized gains	70,443		9,055		--		13,581		14,041		7,687		8,662		8,907		8,510		--
Unrealized appreciation	516,269		328,253		--		53,212		27,549		35,763		14,999		14,253		42,240		--
Total investment income	616,297		366,293		436		66,793		41,590		43,450		23,661		23,160		50,750		164

Contributions:
Participant	898,890		146,218		254,679		104,471		85,348		91,793		89,136		71,007		56,238		--
Employer	1,743,442		260,782		651,622		198,331		132,573		140,509		138,165		124,063		97,397		--
Total contributions	2,642,332		407,000		906,301		302,802		217,921		232,302		227,301		195,070		153,635		--

DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:
Distributions to participants	(427,524	)	(105,351	)	(196,359	)	(33,394	)	(38,916	)	(22,080	)	(3,700	)	(17,894	)	--		(9,830	)
Administrative expenses	(200	)	--		--		--		--		--		--		--		--		(200	)
Total deductions	(427,724	)	(105,351	)	(196,359	)	(33,394	)	(38,916	)	(22,080	)	(3,700	)	(17,894	)	--		(10,030	)

TRANSFERS, NET	--		(45,211	)	(37,483	)	10,562		(4,025	)	7,419		7,288		(15,030	)	(8,926	)	85,406

NET INCREASE	2,830,905		622,731		672,895		346,763		216,570		261,091		254,550		185,306		195,459		75,540

NET ASSETS AVAILABLE FOR PLAN BENEFITS:
Beginning of year	4,376,924		1,010,686		1,328,190		453,865		392,919		353,950		298,868		309,565		170,603		58,278

End of year	$7,207,829		$1,633,417		$2,001,085		$800,628		$609,489		$615,041		$553,418		$494,871		$366,062		$133,818

The accompanying notes are an integral part of these financial statements.

ENSCO MULTINATIONAL SAVINGS PLAN

STATEMENT OF CHANGES IN NET ASSETS AVAILABLE

FOR PLAN BENEFITS

YEAR ENDED DECEMBER 31, 2009

	Total		Ensco plc American Depositary Shares		Invesco AIM US Dollar Liquidity Portfolio		MFS Meridian Global Equity Fund		Pioneer Funds- North American Basic Value		Templeton Global Bond Fund		Skandia Total Return USD Bond Fund		MFS Meridian Global Total Return Fund		Legg Mason Global Funds- Royce Smaller Companies		Cash
ADDITIONS TO NET ASSETS ATTRIBUTED TO:
Investment income:
Interest and dividends	$ 1,957		$ 1,508		$ 407		$ --		$ --		$ --		$ --		$ --		$ --		$ 42
Realized gains	59,419		28,730		--		9,597		1,900		4,945		3,863		5,415		4,969		--
Unrealized appreciation	480,866		211,247		--		88,621		75,470		27,574		19,015		34,725		24,214		--
Total investment income	542,242		241,485		407		98,218		77,370		32,519		22,878		40,140		29,183		42

Contributions:
Participant	916,425		206,390		241,193		94,463		99,950		82,917		81,505		69,715		40,292		--
Employer	3,021,912		606,995		1,218,233		290,498		222,413		187,988		186,875		211,492		97,418		--
Total contributions	3,938,337		813,385		1,459,426		384,961		322,363		270,905		268,380		281,207		137,710		--

DEDUCTIONS FROM NET ASSETS ATTRIBUTED TO:
Distributions to participants	(103,380	)	(21,682	)	(64,833	)	(11,003	)	(3,079	)	(39	)	(226	)	(2,427	)	(91	)	--
Administrative expenses	(275	)	--		--		--		--		--		--		--		--		(275	)
Total deductions	(103,655	)	(21,682	)	(64,833	)	(11,003	)	(3,079	)	(39	)	(226	)	(2,427	)	(91	)	(275	)

TRANSFERS, NET	--		(22,502	)	(66,810	)	(18,311	)	(3,735	)	50,565		7,836		(9,355	)	3,801		58,511

NET INCREASE	4,376,924		1,010,686		1,328,190		453,865		392,919		353,950		298,868		309,565		170,603		58,278

NET ASSETS AVAILABLE FOR PLAN BENEFITS:
Beginning of year	--		--		--		--		--		--		--		--		--		--

End of year	$4,376,924		$1,010,686		$1,328,190		$453,865		$392,919		$353,950		$298,868		$309,565		$170,603		$58,278

The accompanying notes are an integral part of these financial statements.

ENSCO MULTINATIONAL SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

1. PLAN ORGANIZATION AND DESCRIPTION

The Ensco Multinational Savings Plan (the "Plan") is a defined contribution plan available to international expatriate employees ("eligible employees") of Ensco plc and subsidiary companies (the "Company" or "Ensco"). The Plan was established on January 1, 2009 to provide a retirement benefit for eligible employees through Company profit sharing contributions and matching contributions based on eligible employee contributions, and to promote and encourage eligible employees to provide additional security and income for their retirement through a systematic savings program. Based upon current law and published interpretations, the Company does not believe that the Plan is subject to any of the provisions of the U.S. Employee Retirement Income Security Act of 1974, as amended. The following description of the Plan provides only general information. Participants in the Plan ("Plan Participants") should refer to the Plan document for a more complete description of the Plan's provisions.

Participation

Eligible employees of the Company may participate in the Plan upon meeting certain service, citizenship or residency requirements if they are not employed in their own country of tax residency and are not contributing to, or receiving benefits from, any other employer-sponsored savings plan. Eligible employees may elect to participate in the employee savings feature of the Plan after completing one month of service with the Company. The entry date with respect to an eligible employee's ability to make contributions is the first business day of the month following the month during which the employee satisfies eligibility and participation requirements.

Eligible employees automatically participate in the profit sharing feature of the Plan after completing at least 92 days of continuous full-time employment if they are employed at calendar year-end. The profit sharing contributions of the Company are at the discretion of the Board of Directors as disclosed below.

Contributions

Plan Participants may elect to make contributions to the Plan through salary and cash incentive award deferrals ("Savings Contributions"), which may or may not qualify for tax deferral based on each Plan Participant's local tax requirements. Under the Plan, Savings Contributions are limited to 50% of the participant's compensation and Plan Participants may elect to increase, decrease or suspend their Savings Contributions within certain limits, as defined in the Plan.

At the discretion of its Board of Directors, the Company may make contributions to the Plan ("Matching Contributions"). Matching Contributions may be made by the Company in the form of a stated dollar amount or in the form of a matching percentage of Savings Contributions. The Company made Matching Contributions to active participant eligible employee accounts as follows:

	Matching Percentage
	2010	2009

First 5% of eligible compensation	100%	100%

Total Matching Contributions for the years ended December 31, 2010 and 2009 were $501,447 and $517,137, respectively.

At the discretion of its Board of Directors following close of a fiscal year, the Company may also make annual profit sharing contributions to the Plan for the benefit of all Plan Participants ("Profit Sharing Contributions"). Annual Profit Sharing Contributions are allocated to Plan Participants based on their proportionate compensation. Certain eligible employees received their 2008 Profit Sharing Contributions awarded in cash in March 2009 based on their employment status with the Company during 2008. The Profit Sharing Contributions awarded to these employees in March 2009 totaled $1,280,070. The 2009 Profit Sharing Contributions were awarded in cash in March 2010 totaling $1,224,705. Both the 2008 and 2009 Profit Sharing Contributions were included in employer contributions in the statement of changes in net assets available for the year ended December 31, 2009. The 2010 Profit Sharing contributions were awarded in cash in March 2011 totaling $1,241,995. The 2010 Profit Sharing Contributions were included in employer contributions in the statement of changes in net assets available for the year ended December 31, 2010.

Plan Administration

Assets in the Plan are held in trust by Citco Trustees (Cayman) Limited as original trustee on behalf of, and for the benefit of, Plan Participants, who was selected by the Board of Directors upon the recommendation of Company management. The trustee has the authority to manage or dispose of Plan assets as if it were the beneficial owner thereof. However, the trustee and the Company have delegated the management of day-to-day investment elections and administration of the Plan to Global Group Services Incorporated, the administrator, and UBS Financial, Inc., the custodian. Global Group Services Incorporated performs all recordkeeping services.

Vesting

A Plan Participant's Matching Contribution account balance and Profit Sharing Contribution account balance become vested and nonforfeitable upon the completion of years of service with the Company, as follows:

Completed years of service		Vested percentage

Less than one year		0%
One year		33%
Two years		67%
Three or more years		100%

A Plan Participant shall become fully vested in his or her Matching Contribution account balance and Profit Sharing Contribution account balance upon certain events, including death or disability, attaining the age of 65 or a period of service with the Company of at least three years, or a full termination of the Plan. A Plan Participant's Savings Contribution account balance is fully vested at all times.

The nonvested portion of Matching Contribution account balances and Profit Sharing Contribution account balances of terminated Plan Participants are forfeited ("forfeitures") to the Plan and may be used to pay certain administrative expenses of the Plan or to reduce the amount of future employer contributions. The Plan held forfeiture balances totaling $113,790 and $61,129 included in net assets available for plan benefits as of December 31, 2010 and 2009, respectively. The Plan did not use forfeitures to reduce any portion of the Company's Matching Contributions during the years ended December 31, 2010 and 2009.

Distributions

Distributions of a Plan Participant's Savings Contribution account and the vested portion of a participant's Matching Contribution account and Profit Sharing Contribution account are generally made within 60 days of an employee request due to termination of employment. As of December 31, 2009, withdrawals elected by participants that had not been paid totaled $16,950. As of December 31, 2010, all Plan Participants who had elected to withdraw from the Plan had been paid.

Hardship Withdrawals

Should a Plan Participant experience a hardship, he or she may elect to withdraw all or part of his or her vested account from the Plan. All cases of hardship must be presented in writing to, and approved by, the Company. The Company may request additional supporting documentation from Plan Participants to substantiate any case of hardship. The Company may, at its discretion, approve all or part of the withdrawal request. Hardship withdrawals are recorded as distributions in the period in which they are paid. No hardship withdrawals were paid during the year ended December 31, 2009. During the year ended December 31, 2010, hardship withdrawals paid totaled $36,997.

Investments

The Plan allows participants to direct all contributions among a number of different investment funds held by UBS Financial, Inc., including Ensco American depositary shares, evidenced by Ensco American depositary receipts, which represent Class A Ordinary Shares of the Company ( the "Ensco ADS Fund"). In addition, the Plan limits the portion of a participant's aggregate account balance that may be invested in the Ensco ADS Fund to 25 percent. The Plan was amended on October 1, 2009 to reduce the maximum amount of Company shares a participant could hold in his or her account from 50% to 25% (larger holdings were "grandfathered," but could not be increased) with a similar percentage limitation on "new money" investments. The daily value of each investment unit is determined by dividing the total fair market value of all assets in each fund by the total number of units in that fund. Investment income, including certain administrative fees and net appreciation (depreciation) of the fair value of investments, is allocated to each Plan Participant's account based on the change in unit value for each investment fund in which the participant has an account balance.

2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Method of Accounting

The Plan's financial statements are prepared on the accrual basis of accounting.

The Plan's investments are stated at fair value using quoted market prices. Shares of mutual funds are valued at the net asset value of shares held by the Plan at year-end. Purchases and sales of shares in mutual funds and the Ensco ADS Fund are recorded on a trade-date basis. Interest is recorded on the accrual basis and dividends are recorded on the ex-dividend date. See "Note 4 - Fair Value Measurements" for additional information on the fair value measurement of the Plan's net assets.

The Plan presents in the statement of changes in net assets available for Plan benefits the realized gains and/or losses and the unrealized appreciation (depreciation) on investments, which are calculated based on beginning of the year market values of investments to the date of sale and the purchase price, if purchased during the year, to the end of the year market value.

Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires the Plan Sponsor to make estimates and assumptions that affect the reported amounts of assets and liabilities and related changes in net assets available for Plan benefits, as well as disclosures of gain and loss contingencies at the date of the financial statements. Actual results could differ from those estimates.

Distributions

Distributions of benefits to Plan Participants are recorded when paid.

3. PLAN INVESTMENTS

As of December 31, 2010 and 2009, the Plan's investment options included the following:

Ensco ADS Fund: This fund is invested in the Company's American depositary shares. The fund had 87 and 78 participants as of December 31, 2010 and 2009, respectively.

Invesco AIM US Dollar Liquidity Portfolio: This money market fund seeks to provide investors with a high level of current income, while preserving capital and maintaining liquidity by investing in a portfolio of high quality US dollar denominated short-term money market instruments. The fund had 109 and 107 participants as of December 31, 2010 and 2009, respectively.

MFS Meridian Global Equity Fund: This mutual fund seeks to provide investors capital appreciation by investing in a portfolio of equity securities of global issuers. The fund had 56 and 48 participants as of December 31, 2010 and 2009, respectively.

Pioneer Funds-North American Basic Value: This mutual fund seeks to provide investors capital appreciation over the medium to long-term by investing in a portfolio of equities and equity-linked instruments issued by companies that have their registered office in North America or that exercise the preponderant part of their economic activity in North America. The fund had 52 and 47 participants as of December 31, 2010 and 2009, respectively.

Templeton Global Bond Fund: This mutual fund seeks to provide investors a maximum total return, consisting of a combination of interest income and capital appreciation and currency gains by investing in a portfolio of fixed income securities worldwide. The fund had 50 and 44 participants as of December 31, 2010 and 2009, respectively.

Skandia Total Return USD Bond Fund: This mutual fund seeks to provide investors both current income and capital appreciation by investing in a portfolio of intermediate-term investment grade securities. The fund had 55 and 46 participants as of December 31, 2010 and 2009, respectively.

MFS Meridian Global Total Return Fund: This mutual fund seeks to provide investors total return by investing in a portfolio of large-cap equity securities and investment grade government bonds. The fund had 41 and 38 participants as of December 31, 2010 and 2009, respectively.

Legg Mason Global Funds-Royce Smaller Companies: This mutual fund seeks to provide investors long-term capital appreciation by investing in a portfolio of equity securities issued by mid-cap and small-cap companies with stock market capitalizations of less than US $5 billion. The fund had 41 and 33 participants as of December 31, 2010 and 2009, respectively.

During 2010 and 2009, the Plan's investments, including gains and losses on investments bought and sold, as well as held during the year, appreciated in value as follows:

	2010	2009

Proceeds	$576,673	$376,115
Aggregate cost	506,230	316,696
Realized gains	70,443	59,419
Unrealized appreciation	516,269	480,866
Net appreciation in fair value of investments	$586,712	$540,285

4. FAIR VALUE MEASUREMENTS

Certain provisions of FASB ASC 820-10 establish a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy assigns the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities ("Level 1") and the lowest priority to unobservable inputs ("Level 3"). Level 2 measurements are inputs that are observable for assets or liabilities, either directly or indirectly, other than quoted prices included within Level 1. The following fair value hierarchy table categorizes information regarding the Plan's net assets measured at fair value on a recurring basis as of December 31, 2010 and 2009:

	Quoted Prices in	Significant
	Active Markets	Other	Significant
	for	Observable	Unobservable
	Identical Assets	Inputs	Inputs
	(Level 1)	(Level 2)	(Level 3)	Total

As of December 31, 2010
Other investments	$4,374,368	$ --	$ --	$4,374,368
Ensco ADS Fund	1,457,648	--	--	1,457,648
Total investments	$5,832,016	$ --	$ --	$5,832,016

As of December 31, 2009
Other investments	$2,263,082	$ --	$ --	$2,263,082
Ensco ADS Fund	830,859	--	--	830,859
Total investments	$3,093,941	$ --	$ --	$3,093,941

5. ADMINISTRATIVE FEES

The Plan has no employees. All administrative expenses of the Plan have been paid by the Company. Fees paid by the participants and the Plan for investment management and other related services amounted to approximately $200 and $275 for the years ended December 31, 2010 and 2009, respectively.

6. PLAN TERMINATION

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan. In the event of Plan termination, participants will become 100% vested in their accounts.

7. TAX STATUS

The Plan is not qualified under Section 401(a) of the United States Internal Revenue Code of 1986, as amended.

In consideration that Plan Participants are not U.S. citizens, permanent residents or otherwise U.S. tax residents at any time they are participating, Plan Participants will not be directly subject to U.S. federal income tax on any dividends paid on stock of a U.S. corporation. However, the Cayman Islands trust that holds the Plan's assets will be subject to U.S. federal income tax on such dividends at a rate of 30%, withheld at source. The trust will not be entitled to any lower tax treaty rates even if a Plan Participant would have been eligible for such lower treaty rates if he or she held the stock directly. Depending on a Plan Participant's country of residence, he or she may also be entitled to a credit against his or her local income tax (if applicable) for the U.S. federal income tax withheld by the trust.

8. RELATED PARTY TRANSACTIONS

American depositary shares of the Company held by the Plan in the Ensco ADS Fund as an investment qualify as party-in-interest transactions. As of December 31, 2010 and 2009, the Plan's investment in the Ensco ADS Fund was based on the closing price on such dates of $53.38 per share and $39.94 per share, respectively. Like any investment in publicly traded securities, the Company's American depositary shares are subject to price changes. The high and low prices for the Company's American depositary shares were $53.93 and $33.33 for 2010 and $51.30 and $22.04 for 2009. The Company's American depositary shares totaled approximately 25% and 19% of the Plan's total assets as of December 31, 2010 and 2009, respectively.

9. RISKS AND UNCERTAINTIES

The Plan invests in various investment options that are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investments, it is at least reasonably possible that changes in the value of the investments will occur in the near term and that such changes could materially affect Plan Participants' account balances and the amounts reported in the statement of net assets available for plan benefits.

Supplemental Information

Schedule I

ENSCO MULTINATIONAL SAVINGS PLAN

SCHEDULE I - INVESTMENTS

AS OF DECEMBER 31, 2010

Description	Number of shares/units	Market Value	Percentage of Net Assets

Invesco AIM US Dollar Liquidity Portfolio	1,504,777	$1,504,777	25.8%
MFS Meridian Global Equity Fund	21,747	662,645	11.4%
Pioneer Funds-North American Basic Value	8,609	519,488	8.9%
Templeton Global Bond Fund	20,653	519,634	8.9%
Skandia Total Return USD Bond Fund	27,869	458,692	7.9%
MFS Meridian Global Total Return Fund	18,807	412,248	7.1%
Legg Mason Global Funds-Royce Smaller Companies	2,776	296,884	5.1%

Employer securities:
*Ensco ADS Fund	27,307	1,457,648	25.0%
Total Investments		$5,832,016

*Party-in-interest

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Administrator of the Plan has duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

		Ensco Multinational Savings Plan

Date: March 29, 2011		/s/ DOUGLAS J. MANKO By: Douglas J. Manko Controller and Assistant Secretary

EXHIBIT INDEX

Exhibit No.		Description

23.1		Consent of Independent Registered Public Accounting Firm