Seadrill prepares for reduced activity

Fredriksen-owned drilling company Seadrill prepares for a potentially lower level of activity in 2014 and 2015 than expected, but the company is well-positioned, says the Board of Directors.

The next two years could bring less activity than expected, says the Fredriksen-owned drilling company Seadrill, which has published a sound annual report for 2013 that shows improvements in several parameters.

In the fourth quarter the company achieved a net operating profit of USD 568 million, compared to USD 441 million in the same period last year, while the result for the whole year came to USD 2.1 billion, up from USD 1.7 billion in 2012. But the company says the oil industry could face pressure on capex investments in the coming years, which could reduce the activity speed in the sector.

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