Seadrill Gets $404m Jackup Contracts In Middle East

<h4>Seadrill Gets &dollar;404m Jackup Contracts In Middle East by West Cressida and West Leda<&sol;h4>&NewLine;<p><strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria<&sol;a><&sol;strong> has gathered that Seadrill has been awarded three contracts by a leading operator for the West Ariel&comma; West Cressida and West Leda for work in the Middle East&period;<br &sol;>&NewLine;Seadrill is a deepwater drilling contractor for the petroleum industry&comma; incorporated in Bermuda&comma; a British island territory in the North Atlantic Ocean known for its pink-sand beaches such as Elbow Beach and<a href&equals;"https&colon;&sol;&sol;punchng&period;com&sol;"> Horseshoe Bay<&sol;a>&period;<br &sol;>&NewLine;The company&comma; for tax purposes&comma; is managed from London and Houston and operates semi-submersible platforms&comma; jackup rigs and drillships&period;<br &sol;>&NewLine;According to information&comma; the firm term of each contract is three years&comma; with expected commencement between Q1 2023 and Q2 2023&period; As <strong>Seadrill<&sol;strong> gets the contract&comma; sources  value the three contracts  as approximately &dollar;404 million&period;<br &sol;>&NewLine;Upon commencement of the three contracts&comma; Seadrill will operate seven units directly and have a further three units on bareboat charter in the Middle East&period;<br &sol;>&NewLine;&OpenCurlyDoubleQuote;With our imminent relisting in <a href&equals;"https&colon;&sol;&sol;www&period;vanguardngr&period;com&sol;">Oslo<&sol;a>&comma; news of this award confirms Seadrill’s status as a preferred partner in a rapidly recovering rig market&period; Upon commencement of operations early next year&comma; these rigs will add to Seadrill’s strong market share in the Middle East&comma; 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&comma;” said Simon Johnson&comma; Seadrill CEO&period;<br &sol;>&NewLine;<strong>Source&colon; Drilling Contractors Magazine<&sol;strong><&sol;p>&NewLine;