Seadrill offloads West Larissa

Seadrill has agreed to sell its jackup West Larissa, built in 1984, for $55 million.

Offshore staff

HAMILTON, Bermuda -- Seadrill has agreed to sell its jackup West Larissa, built in 1984, for $55 million. The company expects to record a gain on the sale of around $26 million in 4Q 2010. Transfer of ownership should go through later this month or during November.

West Larissa is presently working for Vietsovpetro offshore Vietnam. It will be released from this contract late in October, to be replaced by Seadrill's West Prospero jackup through completion of the contract (by end-2011).

Alf C Thorkildsen, CEO of Seadrill Management, said: "The disposal of West Larissa is in line with our strategy focusing our company on modern, premium offshore drilling units."

10/14/2010

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