Seadrill Eyes Joint Venture With Malaysian Energy Giant

Law360, New York (December 14, 2011, 2:59 PM EST) -- Offshore drilling standout Seadrill Ltd. is looking to deepen its ties to Malaysian oil and gas firm SapuraCrest Petroleum Bhd. with a joint venture to provide oil field services in Brazil, Seadrill announced Wednesday.

The contemplated joint venture would enable Seadrill to expand its operations significantly by piggybacking on SapuraCrest’s access to the Brazil market, which includes a deal to provide three pipe-laying support vessels to energy giant Petrobras, Seadrill said.

“Seadrill, through its subsidiaries, would have a 50 percent equity participation in entities which will...
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