The two companies signed a non-binding Memorandum of Understanding in early November 2012 on the sale of Seadrill’s tender rig business. Seadrill said SapuraKencana would acquire all the tender rigs in its fleet except for West Vencedor, T15, and T16, which are planned to be owned by Seadrill Partners LLC.
The sale is expected to close in April this year.
"We are pleased to have reached an agreement with our long-term partner, SapuraKencana, regarding the sale of our tender rig fleet. We look forward to support the integration of the tender rig fleet and are excited to start a new phase of our long and profitable relationship,” said John Fredriksen, chairman, president and director of Seadrill.
Seadrill is a substantial shareholder in the Malaysian company and as of 30 May last year held a 6.4% stake in SapuraKencana after selling just under half its holdings.
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