Seadrill has sold its remaining stake of approximately 490 million shares in SapuraKencana in a US$195 million deal.
The proceeds from the share sale will provide additional liquidity and will be used for general corporate purposes.
Earlier this month, Seadrill announced it will cut 112 jobs from its workforce that were supporting the West Capricorn drilling rig in the Gulf of Mexico, effective 1 May.
In 2014, Seadrill first farmed down its stake of the Malaysian offshores service provider.
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