Seadrill Limited to sell entire shareholding in Paratus Energy Services

HAMILTON, BERMUDA: Seadrill Limited has entered into binding Share Purchase Agreements under which it will sell its entire 35% shareholding in Paratus Energy Services Limited and certain other interests. 

Paratus Energy Services Limited is the entity through which investments in SeaMex Group, Seabras Sapura and Archer Ltd are held.

Completion of the Sale is subject to customary closing conditions, including approval of competition authorities in relevant jurisdictions, and is anticipated to occur within the fourth quarter of 2022 or early 2023.

Seadrill Limited is a leading offshore drilling contractor utilizing advanced technology to unlock oil and gas resources for clients across harsh and benign locations around the globe.

Seadrill’s high-quality, technologically-advanced fleet spans all asset classes allowing its experienced crews to conduct operations across geographies, from shallow to ultra-deep-water environments.