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Norwegian taxpayers could be left with Seadrill debt

The Norwegian state may have guaranteed upwards of USD 1.3 billion of Seadrill's debt, which means that Norwegian taxpayers could end up footing part of the bill if John Fredriksen's rig company goes bankrupt, reports E24.

John Fredriksen (middle) is the richest person in Norway and owns several shipping and offshore companies. But he holds a Cypriot passport. Photo: Richard Drew/AP/POLFOTO/arkiv

Norwegian taxpayers could end up footing part of the billion dollar debt if rig company Seadrill goes bankrupt.

In the past year, the company, owned by Norwegian-born John Fredriksen, has been struggling to settle a restructuring plan after towering debt and a weak offshore market threatened to collapse the business.

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