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After reporting heavy losses in the end of year 2017, offshore drilling company, Seadrill has now disclosed firm recovery in the first six months of 2018. The company went through the losses mainly because of the dip in offshore drilling market and ageing assets. Seadrill in a statement said that the company has recognized impaired assets of $414 million and is working towards the same.
Equinor has awarded two drilling contracts to Seadrill Norway Operations Limited which is based on a master framework agreement. Under the scope of this contract, two wells will be drilled in the Barents Sea using West Hercules rig and the operations will start in the spring of 2019. Equinor’s senior VP for Drilling & Well Services has informed that the company has finalized the drilling program for West Hercules.
Norwegian-Wintershall has granted a rig contract to Seadrill Norway Operations Ltd for the Nova development. Seadrill will operate the West Mira drilling rig, which is a newly built sixth generation rig designed to operate in all weather conditions. The contract will also cover incentives to reward Seadrill for efficient and safe functioning. Additionally, to fulfill its future rig requirements, Wintershall has entered into a long-term frame agreement with Seadrill.