The Norwegian company, controlled by shipping and offshore tycoon John Fredriksen, will sell the 1985-built jack-up West Janus to Harrington in Dubai for a total price of $73 million, it said in a statement.
Seadrill expects to record a gain of more than $50 million on the sale, which is set to close once the rig completes its present drilling assignment off Malaysia in the August.
Chief financial officer Esa Ikaheimonen said the transaction will reduce the average age of Seadrill’s modern jack-up fleet of 19 units, including rigs under construction, to 2.6 years. He also hinted that fresh newbuild contracts could be in the pipeline.
"We remain optimistic about the market outlook for premium jack-up rigs, and at the same time continue to high-grade our fleet by disposing of some older units... while adding new rigs to it, “ he said.
The company, which has been on an ordering roll of late, currently has six jack-ups under construction with the first of these, the harsh-environment unit West Elara, due for delivery in the second quarter from Singapore’s Jurong Shipyard.