Seadrill reviews harsh environment strategy

Seadrill is considering changes to the ownership of its harsh environment drilling fleet, which includes six rigs contracted in the North Sea area.

Offshore staff

HAMILTON, Bermuda -- Seadrill is considering changes to the ownership of its harsh environment drilling fleet, which includes six rigs contracted in the North Sea area.

One option is to organize this segment into a new public company, with Seadrill as majority shareholder.

Alf C Thorkildsen, CEO of Seadrill Management, said: "Seadrill has a leading market position in the harsh environment offshore drilling market. Our harsh environment fleet currently consists of six units; two deepwater units, two mid-water units, and two ultra-large jackup rigs.

“In response to higher oil prices and increased demand for oil, new frontier areas are opening up for offshore drilling. Seadrill expects these developments to offer attractive opportunities for expansion and further organic growth.”

02/14/2011

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