Seadrill Limited has strengthened its operations until 2030 by signing new drilling contracts in Indonesia, Malaysia, Angola, and the Gulf of Mexico, worth approximately $420 million for the drilling vessel West Carina.
Details of the Indonesia Contract
In Indonesia, the drilling vessel West Carina has signed a contract with an undisclosed operator worth approximately $420 million for a duration of 880 days. This contract includes relocation costs but does not include additional services, and options priced for up to 880 more days are available. Drilling operations are expected to commence in the first half of 2027.
Expansion of Activities in Malaysia and the Gulf of Mexico
In Malaysia, Seadrill has secured extensions for the drilling vessel West Capella worth approximately $94 million. The operator has exercised all remaining pricing options, adding 120 days valued at approximately $41 million to the contract. Additionally, 120 days from previous options without pricing have also been added to this contract, resulting in an approximate value of $53 million. The drilling vessel West Capella is now expected to continue operations until February 2028.
In the Gulf of Mexico, the drilling vessel Sevan Louisiana has signed a 25-day contract with Kosmos, with operations set to begin in November 2026. Financial details for the Angola extension and the Gulf of Mexico contract have not been publicly disclosed.
Samir Ali, President and CEO of Seadrill, stated, "The West Carina contract represents the achievement of our long-term strategic goal to renegotiate three old contracts at current market rates." He added that the contracts for West Carina and West Capella signify an increase in drilling activities in Southeast Asia, while the Sonangol Libongos extension strengthens the company's position in Angola.
Seadrill announced that over 85% of the available drilling days for 2027 have now been contracted, providing a clear outlook on revenue, and the company is advancing its offshore drilling plans in several regions.
