Seadrill to be top owner of North Atlantic Drilling

[OSLO] The world's largest offshore driller, Seadrill, will remain the majority owner in North Atlantic Drilling, board member Tor Olav Troeim said, after news at the weekend of a cooperation deal with Russia's Rosneft.

On Saturday, Russia's largest oil company and North Atlantic Drilling, a rig firm controlled by shipping tycoon John Fredriksen, announced they would work together drilling oil and gas fields in Russia until 2022.

The deal is a coup for Mr Fredriksen, nicknamed "Big Wolf" for his business instincts, as it gives him access to the Russian market on a large scale. For Rosneft, it is an affirmation of the keenness of multinationals to do business with Russia, despite tensions over the crisis in Ukraine.