SDRL - Seadrill acquires the ultra-deepwater semi-submersible rig Songa Eclipse
November 16 2012 - 6:31AM
Marketwired
A subsidiary of Seadrill has entered into an agreement with Songa
Offshore to acquire the ultra-deepwater semi- submersible rig Songa
Eclipse for a consideration 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.
Fredrik Halvorsen, Chief Executive Officer of Seadrill
Management AS says, "This investment is in line with our strategy
of building a modern fleet through selective acquisitions and
organic growth. The ultra-deepwater market is in a strong cycle,
something we expect to prevail over the coming years and the
acquisition increases our exposure to this segment. Furthermore, we
are pleased to strengthen our relationship with Total in Angola,
and increase our presence in the region, which adds scale to our
operations and could further reduce our relative cost base in the
region."
Songa Eclipse is of the same design, Friede & Goldman ExD
millenium, as four of Seadrill's existing rigs in operation, West
Sirius, West Taurus, West Orion and West Capricorn. The rig is
dynamically positioned (DP 2 class certification) and equipped with
Aker Solutions drilling equipment and have water depth capability
up to 10,000ft and drilling depth capacity of up to 37,500ft. The
subsea well control system includes a six-ram 15K psi BOP
stack.
This information is subject of the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading
Act.
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Source: Seadrill Limited via Thomson Reuters ONE
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Media contact Rune Magnus Lundetrae Chief Financial Officer
Seadrill Management AS +47 51 30 91 26 Analyst contact Ragnvald
Kavli Investor Relations Manager Seadrill Management AS +47 51 30
96 27