Seadrill awarded US$4.1b contract
OSLO: Brazilian oil group Petrobras has awarded the Norwegian oil services company Seadrill a contract that could be worth up to US$4.1 billion (US$1 = RM3.16), Seadrill said yesterday. The order covers the six-year lease of three semi-submersible drilling platforms, currently being constructed in South Korea and Singapore, it said in a statement. The contract brings Seadrill's order book to US$12 billion. Seadrill is registered in Bermuda and listed on the Oslo stock exchange. - AFP
My one cent:
BUY SapCrest on the newsflow- despite this news is not totally directed to SapCrest, i believe that Seadrill as a major shareholder with 17.44% stake, will sub-con some to SapCrest. Nonetheless, execution risks remain.
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