Seadrill has taken ownership of an ultra deepwater drillship in a $456million deal with Ship Finance.
The West Polaris was acquired by Ship Finance in 2008 and chartered to Seadrill with purchase options commencing in 2012.
A spokesman said the transaction will be executed as a purchase of shares in Ship Finance’s asset owning subsidiary SFL West Polaris Limited.
The company said it did not expect any immediate material impact to its financial statements as a result of the transaction.