Seadrill enters settlement with subsidiary after dispute

Seadrill now enters a settlement with subsidiary Seadrill Partners after the two companies ended in a dispute last year. The agreement includes, among other things, a payment of more than USD 11 million to Seadrill.

Photo: PR/Seadrill

A settlement agreement has been reached between John Fredriksen's Seadrill and subsidiary Seadrill Partners.

The settlement comes while both companies are in the process of restructuring, and entails, among other things, that Seadrill Partners must pay USD 11.25 million to Seadrill for services provided by the subsidiary, which applied for bankruptcy protection in December last year, writes Norwegian business daily Finansavisen.

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