Offshore drilling firm, Seadrill, has announced it will sell all of its stakes in Paratus Energy Services today.
The company, which has offices in Aberdeen, confirmed that it has entered into a binding Share Purchase Agreements (“SPAs”) under which it will sell its entire 35% shareholding in Paratus Energy Services – formerly Seadrill New Finance – and certain other interests.
Paratus Energy Services is the entity through which investments in SeaMex Group, Seabras Sapura and Archer 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.
This comes as former Seadrill boss Matt Lyne has announced that he has taken on senior vice president and chief commercial officer roles at Valaris.