Global and Regional MarketsNewsThe Offshore Frontier

Seadrill awarded $404 million in contracts for three jackups in the Middle East

Seadrill has been awarded three contracts by a leading operator for the West Ariel, West Cressida and West Leda for work in the Middle East. The firm term of each contract is three years, with expected commencement between Q1 2023 and Q2 2023. Total contract value for the three contracts is approximately $404 million.

Upon commencement of the three contracts, Seadrill will operate seven units directly and have a further three units on bareboat charter in the Middle East.

“With our imminent relisting in Oslo, news of this award confirms Seadrill’s status as a preferred partner in a rapidly recovering rig market. Upon commencement of operations early next year, these rigs will add to Seadrill’s strong market share in the Middle East, leading to significant economies of scale by clustering rigs of similar design in a market segment where we see strong signs of recovery and long-term demand,” said Simon Johnson, Seadrill CEO.

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