Seadrill sells West Titania

Seadrill has agreed to sell the 1981-built jackup West Titania for $146.5 million to Nigerian drilling contractor SeaWolf Oil Services Ltd.
July 25, 2007

Offshore staff

HAMILTON, Bermuda -- Seadrill has agreed to sell the 1981-built jackup West Titania for $146.5 million to Nigerian drilling contractor SeaWolf Oil Services Ltd.

The rig is operating offshore Tunisia for Ecumed under a three-well contract expected to run until Nov. 2007. The jackup will transfer to SeaWolf upon completion of the contract.

"The company mission is to create a leading offshore driller with worldwide activities focused on new and modern drilling assets. The sale of the jackupWest Titania is in line with this strategy," says Kjell E. Jacobsen, CEO of Seadrill Management AS.

7/25/2007

See related stories:
Seadrill secures jackup contract offshore Tunisia
Seadrill secures letter of intent for West Aquarius

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