Mermaid Maritime exits Seadrill offshore drilling venture for US$31m
Add BT as a preferred source
Fiona Lam
Singapore
THAILAND-BASED oil service specialist Mermaid Maritime Public Co will sell its 33.76 per cent stake in Asia Offshore Drilling (AOD) for US$31 million in cash.
Mermaid Maritime's wholly-owned subsidiary, Mermaid International Ventures (MIV), last Friday exercised a put option - about three weeks before it expires - to sell all its shares in AOD to Oslo-listed deepwater drilling contractor Seadrill. An affiliate of Seadrill holds the remaining 66.24 per cent interest in AOD.
TRENDING NOW
CSE Global independent director quits after clashes with chairman Eugene Lai over board refresh
Cat A COE rate exceeds Cat B for third time in 4 months; premiums largely down
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
Singapore workers experiencing rising anxiety; signs of fallout from pressure to use AI
