Seadrill to Sell West Janus Rig to Harrington

23 June 2011 (Last Updated June 23rd, 2011 18:30)

Seadrill has signed an agreement with Dubai-based Harrington to sell its West Janus jack-up drill rig for $73m. The company is expected to gain more than $50m with the rig's sale. The transaction will take place after the rig completes its current drilling contract in the sec

Seadrill has signed an agreement with Dubai-based Harrington to sell its West Janus jack-up drill rig for $73m.

The company is expected to gain more than $50m with the rig’s sale.

The transaction will take place after the rig completes its current drilling contract in the second half of 2012.

Seadrill CEO Alf Thorkildsen said the disposal of West Janus reduces the average age of the modern Seadrill jack-up fleet to 2.6 years, and is in line with the company’s strategy of focusing on modern, premium offshore drilling units.