Seadrill Lands $4B Gulf Of Mexico Oil Rig Contract

Law360, New York (July 25, 2012, 1:51 PM EDT) -- Offshore drilling contractor Seadrill Management AS has landed a three-rig contract with a major oil company worth up to $4 billion, boosting the Norwegian company's presence in the bustling Gulf of Mexico, Seadrill said Wednesday.

The deal marks a substantial one in the oil-and-gas equipment industry, flooded with requests as a boom in offshore reserve discoveries — especially off East Africa and near Brazil — have spurred a rush of activity and a surge in demand as exploration companies scramble for infrastructure.

Under the contract, Seadrill...
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