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Seadrill Management News

29 Dec 2023

Esgian: New Contracts, Drilling Activities and Rig Moves Across the World

Borgland Dolphin drilling rig (Credit: Dolphin Drilling)

Esgian's last roundup of the year for the Week 52 puts spotlight on new developments for Dolphin Drilling semisub, Seadrill drillships, as well as Shell’s plans for Australia and ONGC’s new tender for jackups in India.ContractsDolphin Drilling has signed a Letter of Intent (LOI) with an undisclosed operator for the 1,500-ft semisubmersible Borgland Dolphin to undertake a 500-day drilling campaign in the UK. The drilling campaign is planned to begin directly after the firm part of the contract period with EnQuest, which was announced in late November 2023.

19 Jul 2018

Seadrill Gets ABS-Managed Pressure Drilling Notation

ABS has announced it has issued the managed pressure drilling notation ABS MPD to Seadrill for the ABS-classed West Capricorn, a 6th generation ultra-deep water semi-submersible operating in the Gulf of Mexico.This notation demonstrates system compliance with the ABS Guide for Classification and Certification of Managed Pressure Drilling Systems (MPD Guide).Seadrill’s West Capricorn is the first Column Stabilized Drilling Unit to receive the ABS MPD notation complete with the Maltese Cross, which denotes survey attendance throughout the process, from vendor fabrication to on-board installation.“As the industry drills in more complex…

24 Aug 2017

Seadrill to Seek Bankruptcy Protection

Once the biggest offshore rig firm by market value, Seadrill plans to begin its Chapter 11 debt restructuring in the coming weeks, WSJ reported. The Bermuda-based company, controlled by Norwegian shipping magnate John Fredriksen,  has a plan to restructure around $10 billion in debt. Seadrill, one of the world’s largest offshore drilling companies, operates a fleet of 68 rigs and drillships for customers including Total SA, Petrobras and Exxon Mobil Corp. "Our business execution remains unaffected by these efforts as demonstrated by continued delivery of excellent safety and fleet uptime," he added. "Although the market continues to be challenging, continued operational execution and strong customer relationships has enabled us to re-contract a number of units during the quarter.

03 Dec 2013

Seadrill Appoint David Sneddon Chief Accounting Officer

David Sneddon: Photo courtesy of the subject

David Sneddon is to succeed Robert Hingley-Wilson as Chief Accounting Officer and Senior Vice President of Seadrill Management Limited. Mr Sneddon joined Seadrill effective December 1, 2013 as Senior Vice President and Chief Accounting Officer. Prior to Seadrill he held several senior positions in Novelis Inc., most recently as VP Finance in Europe, and prior to that held various positions in Alcan. Per Wullf, CEO of Seadrill said, "Thanks to Robert for his contribution to Seadrill over the last two years.

22 Jul 2013

Seadrill Ultra-deepwater Newbuilding Contracted to Chevron

Seadrill secures commitment for newbuild ultra-deepwater unit 'West Tellus'. The company has signed a contract with Chevron China Energy Company for the newbuild ultra-deepwater drillship West Tellus in support of Chevron's affiliated global exploration program. The contract commences in China immediately upon shipyard delivery and thereafter relocates to Liberia. The agreement is for a period of 180 days with revenue potential of approximately US$150-million inclusive of bonus potential and mobilization. Additionally, Seadrill say they are currently engaged in advanced discussions with a major oil company for a multi-year contract commencing in direct continuation of the Chevron contract.

19 Jul 2013

Seadrill Appoint Per Wulff New CEO

Per Wullf will succeed Fredrik Halvorsen (leaving to join technology venture Ubon Partners) as Chief Executive Officer of Seadrill Management Limited. Wullf has worked for Seadrill since February 2009 as Executive Vice President and Chief Operating Officer. Prior to Seadrill, he held several senior positions in Maersk, most recently as Managing Director of Maersk Contractors in Norway. He has 33 years of experience in the drilling industry, including 17 years in international and offshore operations. John Fredriksen, Chairman of the Board of Directors said, "The Board would like to express its thanks to Fredrik Halvorsen for his contribution to the Fredriksen group of companies since he joined us in 2010.

21 Jun 2013

China Yard Gets Seadrill Jack-up Rig Orders

A Seadrill Jack-up Rig: Photo courtesy of Seadrill

Seadrill Limited contracts with Dalian Shipbuilding Industry Offshore Co., Ltd. (DSIC Offshore) in China for the  construction of two high specification jack-up drilling rigs. The newbuild rigs are scheduled for delivery during the fourth quarter of 2015 and the first quarter of 2016, and the total project price per rig is approximately US$230 million (including project management, capitalized interest, drilling and handling tools, spares and operation preparations), with tail-heavy payment terms.

17 Apr 2013

Deepwater Drillship Chartered Before Delivery

A Seadrill Drillship: Photo credit Seadrill

Seadrill contracts with LLOG Bluewater Holdings, LLC, for employment of the new-build drill-ship, 'West Neptune', offshore Gulf of Mexico. The contract duration is a minimum of three years plus an option for a one-year extension at mutually agreed rates. The potential revenue for the primary contract term is approximately US$662 million. The West Neptune is expected to be delivered to Seadrill from the Samsung Heavy Industries shipyard in Geoje, South Korea, in early June 2014.

14 Mar 2013

Asia Offshore Drilling Secures AOD II and AOD III Contracts

Photo: Asia Offshore Drilling

Asia Offshore Drilling Ltd (AOD) has signed drilling contracts whereby AOD's jack-up drilling rigs AOD II and AOD III will be leased to Saudi Aramco for operations offshore Saudi Arabia. The drilling contracts have been entered into and will be managed by Seadrill Management, on behalf of AOD. The contract duration is a minimum of three years plus a one-year option. The potential revenues for the three-year period are approximately US$197 million per rig plus a mobilization fee of US$34 million per rig…

19 Nov 2012

Seadrill Buys Ultra-Deepwater Rig 'Songa Eclipse'

'Songa Eclipse' & Songa Offshore COO at Launch: Photo credit Songa Offshore

A subsidiary of Seadrill to buy the ultra-deepwater semi-submersible rig 'Songa Eclipse' for a price of US$ 590-million. The rig was delivered from the Jurong Shipyard in Singapore in 2011, and is currently operating for Total offshore Angola on a fixed contract ending in December 2013. In addition Total has three one-year options to further extend the contract. Seadrill intends to take delivery of the rig during December 2012 after which it will have an immediate impact on Seadrill's cash flow and financial results.

07 Jul 2010

Brazil Shipbuilding: A Forecast

The rise and fall of the Brazilian shipbuilding market is well-known, having plummeted from the top of the world list in the early 1980s to the bottom by 1999. Today, Brazil is storming back, an amazing revival of the nearly defunct shipbuilding industry driven by the sudden influx of orders from major offshore oil & gas players, namely Petrobras. Today the shipbuilding market in Brazil has in excess of 100 firm orders for ships in a variety of shapes and sizes, in addition to a large number of drill rigs and production unit orders. In addition, companies from around the globe are flocking to Brazil to set-up shop and engage in the industry’s renaissance.

26 Jan 2010

Athens Group Third Year of Growth

Athens Group announced a 64% increase in year-over-year revenue for 2009 as well as a 225% increase in booked business for 2010. Athens Group is experiencing a growing demand for its Drilling Technology Assurance (DTA) Services on newbuilds and existing fleets as drilling contractors and operators become increasingly aware of the need for control systems and software engineering expertise on today’s high-specification assets. In 2010, Athens Group’s Proven Practices Methodology will be used by a growing base of customers to reduce Non-Productive time (NPT) and improve safety during all phases of the rig lifecycle including construction, operations, annual audits, and refurbs.

03 Jul 2007

Keppel FELS Delivers Jackup Rig

Keppel FELS Limited has delivered a KFELS B Class design jackup drilling rig to Seadrill Management AS (Seadrill), within budget and ahead of time. This rig was named West Prospero by Lady Sponsor Jocelyn Pedregosa Shearer, wife of Ian Shearer, Senior Vice President for Jackup Units of Seadrill on June 30, 2007. Liam Mallon, Chairman and Lead Country Manager of ExxonMobil Malaysia, graced the ceremony as Guest-of-Honor. West Prospero is the second KFELS B Class rig that Keppel FELS has delivered to Seadrill. The first rig, West Ceres (ex-Seadrill 3), was delivered to Seadrill in April 2006. Keppel FELS is building two more KFELS B Class jackup rigs for Seadrill. Construction of the other two rigs is progressing according to schedule.

13 Dec 2006

Keppel Divests Stake in Ultra Deepwater Tender Rig

Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), will divest its entire 72 percent interest in the rig, West Berani, to SeaDrill Asia Limited (SeaDrill Asia) for approximately $72m. This divestment follows the completion of the semisubmersible drilling tender (SSDT), which was delivered on time today. In May 2005, Keppel FELS entered into an agreement with SeaDrill Asia, formerly Smedvig Asia, to own and operate the SSDT on a 72/28 basis respectively. SeaDrill Asia had the option to exercise Keppel FELS’ interest in the rig upon completion. This is the fifth deepwater tender drilling rig that Keppel has built for SeaDrill Asia since 1994.

24 Apr 2006

Keppel Deliver KFELS B Class Jackup

Keppel FELS Limited (Keppel FELS) will deliver a jackup to a wholly-owned subsidiary of SeaDrill Management (SeaDrill) on time and within budget. This is the third KFELS B Class rig that Keppel has completed within the first four months of 2006. During the christening ceremony of the jackup on April 21, 2006, Mr Choo Chiau Beng, Chairman & CEO of Keppel Offshore & Marine Limited (Keppel O&M), shared with the 300-strong guests, “The on-time delivery of the jackup is a showcase of the good management and execution of Keppel FELS. This rig is the first of four jackups that Keppel FELS is building for SeaDrill. Construction of the other three rigs is progressing well in accordance to schedule. Their expected deliveries are between mid 2007 and second quarter 2008.