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Samsung Heavy Sells Drilling Rig for $500 Mln

January 29, 2018

South Korea's Samsung Heavy Industries Co Ltd said on Monday it has agreed to sell a semi-submersible drilling rig for $500 million to an unidentified European company.

The world's third-largest shipbuilder by orderbook said Sweden's Stena, which originally ordered the drilling rig, had cancelled the order last year.
Last week, Samsung Heavy agreed to sell the rig to a European third party, resolving the risk of non-payment, the firm said in a regulatory filing.

(Reporting by Joyce Lee; Editing by Sherry Jacob-Phillips)

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