Seadrill agrees rig delivery deferment

Seadrill has reached an agreement with Daewoo Shipbuilding & Marine Engineering shipyard in South Korea to defer the delivery of two ultra-deepwater drillships, the West Aquila and West Libra, until Q2 2018 and Q1 2019 respectively.

Under the terms of the original construction contracts, the units were to be delivered by the end Q2 2016 and the total final yard installment for both units of over US$800 million was due at that time.  

This agreement significantly improves the company's near term liquidity position by deferring these capex commitments to 2018 and 2019 with no further payments to the yard until that time.

Current News

Iran’s Top Security Body to Weigh In on Strait of Hormuz Closure

Iran’s Top Security Body to We

Gimi FLNG Enters Commercial Ops at BP’s GTA Project off Western Africa

Gimi FLNG Enters Commercial Op

Aibel to Provide Maintenance Services for Two Vår Energi’s Oil and Gas Fields

Aibel to Provide Maintenance S

MDL Assists Saipem to Deliver Offshore Campaigns in West Africa

MDL Assists Saipem to Deliver

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine