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Seadrill secures $404m in Middle East contracts

Offshore drilling contractor Seadrill has landed new contracts worth around $404m with a leading operator in the Middle East for three of its jackup rigs.

The 2008-built West Ariel, the 2009-built West Cressida, and the 2010-built West Leda will each be on a three-year firm contract, commencing between Q1 2023 and Q2 2023. 

Upon commencement of the three contracts, Seadrill will operate seven units directly and have a further three units on a bareboat charter in the Middle East. 

“These rigs will add to Seadrill’s strong market share in the Middle East, leading to significant economies of scale by clustering rigs of similar design in a market segment where we see strong signs of recovery and long-term demand,” commented Simon Johnson, Seadrill CEO.

The driller also recently won new deals in the US Gulf of Mexico worth around $105m. The company started trading on Euronext Expand on April 28, and is expected to uplist to the main market of the Oslo Stock Exchange and the New York Stock Exchange later this year.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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