John Fredriksen’s SFL Corporation won a legal challenge against offshore driller Seadrill over rig redelivery in 2022.
In March 2023, SFL filed a case in the Oslo District Court in Norway, claiming Seadrill had not redelivered the bareboat-chartered semisubmersible Hercules in the condition required under our contract. SFL sought damages of about NOK300m ($28m at the time).
The company said in a filing yesterday that the court ruled in its favour and ordered certain subsidiaries of Seadrill to pay SFL about $48m in compensation, including late payment interest and legal costs.
Seadrill, founded by Fredriksen in 2005, redelivered the 2008-built rig in December 2022 and its management was transferred to Odfjell Drilling. In February of the same year, SFL also transferred its 2014-built jackup rig Linus to Odfjell Drilling from Seadrill.
The company noted that the ruling is subject to appeal from both sides by March 5, 2025.
Energy News Beat