Seadrill Limited has made the strategic decision to cold stack the West Phoenix semisubmersible rig in Norway due to current market constraints. Delivered in 2008, the 7,784-ft Moss Maritime CS-50 MkII rig had recently concluded a successful three-year stint offshore Norway with Var Energi, wrapping up operations in August 2024.
Despite active marketing for new opportunities, Seadrill found no immediate prospects for continued work. President and CEO Simon Johnson emphasized the company’s stance, noting, “In the absence of an immediate market opportunity for the West Phoenix, we stacked the rig and released the crews, refusing to contribute to our own white space, waiting on the market to change.”
This move underscores Seadrill’s commitment to operational prudence and readiness to adapt to fluctuating offshore drilling market conditions, as they await potential openings for redeployment.
