- Seadrill (NYSE:SDRL) unit North Atlantic Drilling (NYSE:NADL) says it has delayed closing a cooperation deal with Rosneft (OTCPK:RNFTF) by two years and agrees to renegotiate the terms of the agreement.
- Western sanctions against Russia and Rosneft had raised concerns about the proposed $4.1B deal and already have forced the Russian oil firm to cancel several NADL contracts.
- Under the deal, which had already been delayed to May this year, NADL would buy ~150 land rigs from Rosneft, which would take a ~30% stake in NADL; SDRL, which holds 71% of NADL, would remain the majority shareholder.