Seadrill has agreed a deal to buy out Thailand’s Mermaid Maritime to take full control of Asia Offshore Drilling.
The joint venture owns three jackup rigs, and Seadrill is paying $31m to acquire the Thai company’s 33.76% stake.
Following completion of the deal, set for later this month, Seadrill subsidiary Seadrill Rig Holding Company Limited will hold 100% of the shares in Asia Offshore Drilling.
Source: Seadrill
