Seadrill Limited has provided an update on its contracting activities in Europe and beyond, highlighting a new agreement for its West Elara rig on the Norwegian Continental Shelf.
In Norway, the West Elara has secured an accommodation contract with Equinor AS, expected to commence in the third quarter of 2026 and continue into the fourth quarter of 2027. The firm contract value is US$78mn, with three priced options of three months each. Prior to this fixture, Seadrill reached a mutual agreement with the current contract holder to make the West Elara available. “This update to the rig’s schedule results in a net increase in total contract value of US$23mn,” the company noted.
Seadrill’s president and chief executive officer, Simon Johnson, said, “We are excited to confirm these important contracts with several of our long-standing customers. … In Norway, the West Elara’s contract with Equinor represents a harmonious solution to a potential gap in the rig’s operations, reaffirming that Seadrill’s collaborative approach with customers continues to create value for all stakeholders.”
Outside Europe, the ultra-deepwater drillship West Capella in Malaysia has secured a contract with an undisclosed operator. The well-based programme is expected to start in the second quarter of 2026, with an estimated duration of 440 days, plus priced options for three additional wells. The total firm-term contract value is approximately US$157mn, including a US$5mn mobilisation fee and excluding additional services.
Meanwhile, the West Carina in Brazil has had its current contract extended through April 2026.
Johnson added, “The reactivation of the West Capella materially enhances Seadrill’s earnings potential in a region with reinvigorated demand for offshore drilling.”
Seadrill’s latest contracts underscore its focus on strengthening European operations while maintaining a global presence across key offshore markets. In Norway, the West Elara deal highlights the company’s ability to optimise rig utilisation in collaboration with major operators, ensuring minimal downtime and maximising the value of its fleet.
The accommodation contract comes amid growing offshore activity in the Norwegian Continental Shelf, where operators are seeking flexible solutions to support extended field development and maintenance projects. Seadrill’s approach reflects a broader trend in the offshore drilling sector, combining operational adaptability with long-term strategic partnerships.
