"Seadrill has under the arrangement several options to repurchase the unit during the charter period," Bermuda-registered Seadrill said.
"Seadrill will not record any gain from the sale of West Prospero in the accounts as the jack-up will continue to be reported as a newbuild asset in the company's balance sheet," the company said.
Chief operating officer and Alf Thorkildsen said the aim of the sell/lease-back deal - the second with Ship Finance in the last six months - is to free up capital and boost scope for financial leverage.
In
