Sembmarine stands to offload West Rigel rig in US$500m resale deal

Singapore

A DEAL involving the resale of the West Rigel semi-submersible rig, pegged at around US$500 million, from a subsidiary of John Fredriksen-controlled Seadrill to a US-based fund house is in the works, spelling possible progress in resolving the overhang on Sembcorp Marine's yet-to-be-delivered rig-building order book.

Trade newsletter, Asia Pacific Offshore, reported that West Rigel was rumoured to be sold to a New York-based investment company at US$501 million. But a broker source told BT: "The deal is not done yet ... buyers have time to close the tr…