Seadrill, a Bermuda-based offshore drilling contractor, has unveiled a series of contracts and extensions, topped by a major 880-day campaign in Indonesia. These contracts also include multi-year extensions in Angola and Malaysia, as well as a fast-tracked mission in the Gulf of America.
Contract and Operation Details
Seadrill has announced that it has signed contracts for high-specification offshore drilling units such as West Carina, West Capella, Sonangol Libongos, and Sevan Louisiana. In particular, the drilling vessel West Carina has signed a contract with an undisclosed operator in Indonesia worth approximately $420 million for the specified duration. This contract includes relocation costs and excludes additional services.
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The specified duration of this mission is estimated at 880 days, with pricing options for an extension of up to another 880 days also available. The commencement of operations for the drilling vessel West Carina is scheduled for the first half of 2027.
Extensions and New Projects
The sixth-generation dual-capable drilling vessel West Capella has signed a 120-day contract with an operator in Malaysia, valued at approximately $41 million. Additionally, non-priced options for another 120 days worth nearly $53 million have also been agreed upon. The West Capella drilling vessel is expected to continue operations until February 2028.
Samir Ali, President and CEO of Seadrill, stated: "The awards for West Carina signify achieving our long-term strategic goal of revising three old daily contracts to current market levels."
The sixth-generation dynamically positioned drilling vessel Sevan Louisiana has signed a 25-day contract with Kosmos in the Gulf of America, with operations expected to commence in November 2026.
The CEO of Seadrill emphasized: "Our strong commercial performance contributes to enhancing the revenue visibility for 2027, with over 85% of the available days of our drilling vessels contracted, and we are well positioned to convert these contracts into stronger revenues and free cash flow."
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