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Seadrill in brief

Setting the standard in drilling

The actual Seadrill assets results from the consolidation of several companies operating in the offshore drilling sector.

Registered in Hamilton, Bermuda Islands, in 2005, Seadrill Limited (Seadrill) is listed in Oslo and New York Stock Exchanges.

One of the major Seadrill’s acquisition relies on the Norwegian Smedvig asa in 2006.

Established in 1972 in Stavanger, Norway, Smedvig built the first Norwegian-owned semisubmersible drilling unit.

More recently in 2011, Seadrill acquired 28.5% of the other Norwegian Sevan Drilling company well known for its concrete cylindrical structured rigs.  

Operating in 15 countries with 7,900 employees, Seadrill intends to lead offshore deepwater drilling operations.

Seadrill operates a fleet of 67 units offering all types of design from shallow water to ultra deep water:

 – Semisubmersible

 – Deepwater drillships

  – Jack-ups

 – Semi-tender rigs

 – Tender rigs

Mobilizing its state-of-art expertise in offshore drilling operations, Seadrill focuses on the challenging deepwater fields where it can benefit the most from its competitive advantage with a modern fleet of vessels and skilled employees.

So far this strategy has proven to provide Seadrill with premium day rates for the lease of the rigs and drill ships.

Seadrill Key Figures

 – 2011 Revenues: $4,1 billion

 – 2010 Revenues: $4 billion

 – 2009 Revenues: $3,2 billion

 – 2011 Earnings: $1,4 billion

 – 2010 Earnings: $1,1 billion

 – 2009 Earnings: $1,3 billion

 – 2011 Capital Expenditure: $2,5 billion

 – 2010 Capital Expenditure: $2,3 billion

 – 2009 Capital Expenditure: $1,3 billion

Seadrill Projects and Business Highlights

Because of its profitability, Seadrill manages to maintain a high level of capital expenditure to support it strategy for growth going through:

 – Safe and effective operations building trust with the customers

 – Skilled employees working on state-of-art drilling rigs and ships

 – Selective acquisitions, mergers and alliances

 – Focus on deepwater and harsh environment

 – Expand jack-up fleet

Since 2008, the consolidation of the offshore drilling rig sector gave the opportunity to differentiate services and capture opportunities for acquisitions and mergers that Seadrill intends to continue in the same way.

In parallel Seadrill sold most it interest in the Malaysian Sapura-Kencana drilling company to keep only 6.4% shares.

Listing the Brazilian subsidiary, Seabras, into San Paulo stock exchange increases Seadrill financial capacities to develop its “Newbuild program” of 18 rigs for $4.6 billion capital expenditure.

8 of the 18 rigs are already covered by a charter contract.

In addition to these new-build drilling rigs and vessels, Seadrill seized the opportunity to acquire the ultra-deepwater semisubmersible rig Songa Eclipse actually in operations offshore Angola for Total.

Songa Eclipse is similar to four other semisubmersible rigs actually in operations, giving Seadrill the opportunity to optimize operations and reduce costs

With a demand for deepwater drilling rigs ramping up until 2015 at least, Seadrill is expanding its portfolio to take maximum benefit from this long cycle of charter contracts to come on the next three years.

For more information and data about oil and gas and petrochemical projects go to Project Smart Explorer

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