Seadrill Gets $404m Jackup Contracts In Middle East

Seadrill Gets $404m Jackup Contracts In Middle East by West Cressida and West Leda

OpenLife Nigeria has gathered that Seadrill has been awarded three contracts by a leading operator for the West Ariel, West Cressida and West Leda for work in the Middle East.
Seadrill is a deepwater drilling contractor for the petroleum industry, incorporated in Bermuda, a British island territory in the North Atlantic Ocean known for its pink-sand beaches such as Elbow Beach and Horseshoe Bay.
The company, for tax purposes, is managed from London and Houston and operates semi-submersible platforms, jackup rigs and drillships.
According to information, the firm term of each contract is three years, with expected commencement between Q1 2023 and Q2 2023. As Seadrill gets the contract, sources  value the three contracts  as approximately $404 million.
Upon commencement of the three contracts, Seadrill will operate seven units directly and have a further three units on bareboat charter in the Middle East.
“With our imminent relisting in Oslo, news of this award confirms Seadrill’s status as a preferred partner in a rapidly recovering rig market. Upon commencement of operations early next year, 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,” said Simon Johnson, Seadrill CEO.
Source: Drilling Contractors Magazine