Seadrill is considering reorganising its harsh environment activities, including six drilling rigs contracted in the North Sea.
The harsh environment fleet also includes two deepwater units, two mid-water units and two ultra-large jack-up rigs.
The team hopes that the reorganisation will optimise the value of its harsh environment operations and further fortify the segment.
Seadrill is looking to organise the segment into a new public company with Seadrill as the majority shareholder.
The move will enable the firm to improve its service to oil firms with safe operations in these challenging environments.
Seadrill Management CEO Alf Thorkildsen said that Seadrill expects these developments to offer opportunities for expansion and further organic growth.