Seadrill (SDRL) signs an MOU to sell rigs to Malaysian oil and gas service provider...

|About: Seadrill Limited (SDRL)|By:, SA News Editor

Seadrill (SDRL) signs an MOU to sell rigs to Malaysian oil and gas service provider SapuraKencana Petroleum for $2.9B as part of a deal to merge the companies' rig operations. SDRL will receive at least $350M in new shares in SapuraKencana and two seats on its board. It plans to use the proceeds from the sale to expand its deep water fleet and invest in the jack up sector. Shares -1.2% in Stockholm. (PR)