Seadrill reduces holdings in SapuraKencana

Offshore staff

HAMILTON, Bermuda – Seadrill has reduced its holdings in SapuraKencana Petroleum Bhd. Seadrill sold $200 million in SapuraKencana shares and now has 6.4% of the outstanding shares.

“The sale of part of the shares is in line with Seadrill's strategy to realize gains from its investment portfolio and use these funds to fund future growth within its core drilling business and also optimize dividend capacity,” said John Fredriksen, Seadrill chairman. “Seadrill will remain one of the largest shareholders in SapuraKencana and is fully committed to work together with our Malaysian partner in order to develop future joint venture business.”



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...