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Seadrill leaves Norway

Norwegian Seadrill is now following through on its announced intentions to move the offshore company’s headquarters out of Norway, which happens at the same as the current CEO is stepping down. The reasons for the move are the difficulties of finding qualified personnel, the high Norwegian costs, and the distance to Seadrill’s core markets, writes Norwegian newspaper Aftenposten.

John Fredriksen is packing up Seadrill, the world’s largest rig company, moving the company out of Stavanger and out of Norway. The new location of the company is still unknown, but the new headquarters will be based in London, Dubai, Singapore, or Houston, writes Aftenposten.

“Today the board Seadrill announced its plans to implement a new management structure, in order to ensure a continuing safe and efficient operation, and to support its global strategy,” says a message from Seadrill to the stock exchange following a board meeting on Tuesday, according to Aftenposten.

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