"Singapore’s Sembcorp Marine is seeking a buyer for the recently completed semi-submersible drilling unit PetroRig I after the Norwegian client PetroMena failed to make final payment..."
Bad news for PetroMENA shareholders, good(ish) news for Seadrill, since Seadrill will either get the rig cheap through a bid or it'll get the funds it invested in the bonds back with a considerable gain.
Pictured below is PetroMENA founder Berge Larsen at the christening of Petrorig I earlier this year. I reckon he aint got much to applaud at these days.
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