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Provider: Reuters Investment Profile
Provider: Wright Reports

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Sevan Drilling ASA Outsources Rig Management to Seadrill Ltd

Tuesday, 17 Sep 2013 03:32am EDT 

Sevan Drilling ASA announced that the Company has been in the process of establishing agreements for the outsourcing of the rig management to Seadrill Ltd since Seadrill's acquisition of controlling stake in Sevan Drilling. The permanent management agreements have now been agreed and executed. Seadrill will provide management for the operation of Sevan Driller, Sevan Brasil, Sevan Louisiana and, ultimately, Sevan Drilling Rig 4. In respect of rig 4, Seadrill will also take responsibility for preparations for operations and mobilization and marketing of all rigs, as well as providing construction support. The agreements have been negotiated on market terms and are consistent with management agreements provided by Seadrill to other entities. 

Company Quote

-0.02 -2.70%
23 Jan 2015