September 19, 2014 12:04 AM ET

Energy Equipment and Services

Company Overview of SeaDrill Management AS

Company Overview

SeaDrill Management AS provides offshore deep water drilling services to oil and gas exploration companies. The company also provides corporate and management services. The company was founded in 2006 and is based in Stavanger, Norway. SeaDrill Management AS serves as a subsidiary of SeaDrill Limited.

Lokkeveien 111

Stavanger,  4001

Norway

Founded in 2006

Phone:

47 51 30 90 00

Fax:

47 51 30 90 01

Key Executives for SeaDrill Management AS

Chief Executive Officer
Age: 41
Chief Financial Officer
Age: 37
Chief Operating Officer and Senior Vice President
Age: 54
Vice President of Investor Relations
Compensation as of Fiscal Year 2014.

SeaDrill Management AS Key Developments

SeaDrill Management AS Acquires the Ultra-Deepwater Semi-Submersible Rig Songa Eclipse

SeaDrill Management AS has entered into an agreement with Songa Offshore to acquire the ultra-deepwater semi-submersible rig Songa Eclipse for a consideration of USD 590 million. The rig was delivered from the Jurong Shipyard in Singapore in 2011, and is currently operating for Total offshore Angola on a fixed contract ending in December 2013. In addition Total has three one-year options to further extend the contract. Seadrill intends to take delivery of the rig during December 2012 after which it will have an immediate impact on Seadrill's cash flow and financial results.

SeaDrill Management AS Announces Executive Changes

The Board has after discussions with the CEO of SeaDrill Management AS, Alf C. Thorkildsen, mutually agreed to terminate his contract. Mr. Thorkildsen will remain on the Board of North Atlantic Drilling Limited. Fredrik Halvorsen, currently the CEO of Archer Limited, has been appointed by the Board to succeed Mr. Thorkildsen. Incoming CEO, Fredrik Halvorsen, has worked closely with the Board and senior management of Seadrill in his current roles with Frontline Corporate Services and Archer. He has been a Director of Archer since 2010, stepping in as interim CEO of Archer in January 2012.

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