Seadrill, a London-headquartered offshore drilling contractor, has doubled the size of a credit facility handed to its subsidiary, North Atlantic Drilling.
The facility, whose initial value was $25million, was previously extended to mature on April 30.
It has now been raised to $50million and extended to June 30.
The funding arrangement was put in place while restructuring continues at both companies.
North Atlantic Drilling, which has a presence in Aberdeen, had been supplying the West Pheonix rig to Total E&P west of Shetland.
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