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Seadrill Acquires Minority Share in Asia Offshore Drilling for USD 54m
Wednesday 16 September 2020

Bermuda-based deepwater drilling contractor for the petroleum industry, Seadrill Ltd. (OSE: SDRL) (OTCQX: SDRLF) has acquired a 33.76% share of Bermuda-based oil and gas services provider Asia Offshore Drilling Ltd. (AOD), the company said.

The consideration for the shares in AOD is USD 54m, and it is expected that completion of the share transfer and payment of the consideration will occur by the end of September 2020.

Following completion, Seadrill will, through its subsidiary Seadrill Rig Holding company Ltd., hold 100% of the shares in AOD.

Seadrill has agreed to be responsible for construction, supervision, project management, and commercial management of Asia Offshore's jackup drilling rigs.
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Date Published: 16/09/2020

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