Seadrill extends contract with Petrobras

John Fredriksen's drilling company has extended a contract for a drilling vessel with Brazilian Petrobras. A rare piece of good news for struggling Seadrill, which is combating a debt burden of almost USD 11 billion.

Photo: Seadrill

Seadrill is currently going against a strong headwind, where the downturn on the offshore market in particular has put enormous pressure on the Norwegian-Cypriot shipping magnate John Fredriksen's drilling company.

But now the company finally gets a breath of fresh air with a contract extension for drilling vessel West Tellus, which works for Brazilian Petrobras, according to a corporate statement to the Oslo Stock Exchange on Wednesday.

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