November 12, 2012 / 8:11 AM / in 5 years

Seadrill signs 5-year, $1.18 bln rig deal

OSLO, Nov 12 (Reuters) - Rig operator Seadrill has signed a $1.18 billion five-year deal with Husky Oil Operations Limited to provide a newly built harsh environment rig for operations in Canada and Greenland, it said on Monday.

“The award of a five-year contract with commencement in 2015 is also a clear sign of the present tightness in the harsh environment (and) deepwater drilling market,” Seadrill said.

“Seadrill currently has several options and proposals to increase the newbuild program within this field further,” it said. “A decision regarding further investment within this segment is likely to be taken shortly.”

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