|By Marketwired .||
|October 2, 2012 06:50 PM EDT||
HAMILTON, BERMUDA -- (Marketwire) -- 10/02/12 -- The Board of Seadrill has today announced plans to implement a new management structure to ensure continued safe and efficient operations and support its global strategy.
Since acquiring Smedvig ASA in 2006 Seadrill has operated its management service company, Seadrill Management AS out of Stavanger, Norway. Globally the company has established strong regional operational centers with more than 400 people employed onshore in Houston, Rio, Singapore, and Dubai.
In June 2012, North Atlantic Drilling Limited was separated from Seadrill Management, to create an operational centre for the North Atlantic, managed out of Stavanger.
As a direct consequence of these changes, the Board has reviewed the future management structure. Two areas for consideration have resulted from this process:
Firstly, the company can further improve its efficiency by reducing the size of the Seadrill Management and by moving several of the functions to the operating regions.
Secondly, Seadrill Management's location in Stavanger may constrain Seadrill's aggressive growth plans, for which access to qualified personnel is critical. Furthermore, the Norwegian cost level and distance from Seadrill's core markets makes travel and logistics cumbersome when managing world-wide operations.
As such, the Board has decided to explore establishing a new management service function in an alternative location. Several locations including London, Dubai, Singapore and Houston are under consideration. A final decision regarding the location of the new office can be expected before year end.
Seadrill's management team is supportive of the Board's review of locations and have agreed to re-locate, if necessary.
The Board has after discussions with the CEO of Seadrill Management, Alf C. Thorkildsen, mutually agreed to terminate his contract. Mr. Thorkildsen will remain on the Board of North Atlantic Drilling Limited; a majority owned subsidiary of Seadrill.
Fredrik Halvorsen, currently the CEO of Archer Limited, has been appointed by the Board to succeed Mr. Thorkildsen.
John Fredriksen, Chairman of the Board of Directors said, "The Board would like to express their thanks to Alf for an excellent performance over the last six years and wish him all the best for the future.
"Alf joined us as part of the Smedvig acquisition in 2006 and has been an integral part of the Seadrill growth story. Alf has worked very closely with the Board of Directors, has overseen significant expansion of the company and has established an experienced management team.
"With North Atlantic Drilling now seeking a US listing, we are looking to further develop the organization in line with our strategy. North Atlantic Drilling will remain a core part of Seadrill and we will continue to focus on harsh environment operations from Stavanger. Seadrill will maintain its position as a top quality international driller with modern standardized assets that can be traded freely across the regions in which it operates.
"Our decision to consider moving Seadrill's central management function should be seen as a dynamic decision to adapt to a changing market. In total four of our largest competitors have, in the last five years, taken similar decisions. The ultimate target is to secure access to the most skilled workforce, support our regional operations effectively, provide our customers with a first class service and ensure the company remains cost competitive."
Incoming CEO, Fredrik Halvorsen, has worked closely with the Board and senior management of Seadrill in his current roles with Frontline Corporate Services and Archer. He has been a Director of Archer since 2010, stepping in as interim CEO of Archer in January 2012. He is also a Director of Deep Sea Supply and Aktiv Kapital. Prior to this, Mr. Halvorsen held various roles including CEO of Tandberg ASA, and senior positions at Cisco Systems Inc as well as McKinsey & Company.
Commenting on his new appointment Mr Halvorsen said: "Seadrill has established a track record of delivering safe and efficient operations for its customers. With the industry's most modern equipment and a highly skilled team, we intend to keep it this way.
"I look forward to working with the Board and management team to ensure a smooth transition.
"Alf leaves behind a very well run Company and I appreciate his decision to stay on as a board member of North Atlantic Drilling."
Seadrill has a versatile fleet comprising of 67 units, including 19 rigs under construction. The fleet operates in over 15 different countries across five continents. Current operations are being performed and supported by over 7,900 employees worldwide.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Seadrill Limited via Thomson Reuters ONE
Rune Magnus Lundetrae
Chief Financial Officer
Seadrill Management AS
+47 51 30 91 26
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 5, 2016 03:30 AM EST Reads: 613
"We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 5, 2016 03:30 AM EST Reads: 919
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
Dec. 5, 2016 01:30 AM EST Reads: 728
It's easy to assume that your app will run on a fast and reliable network. The reality for your app's users, though, is often a slow, unreliable network with spotty coverage. What happens when the network doesn't work, or when the device is in airplane mode? You get unhappy, frustrated users. An offline-first app is an app that works, without error, when there is no network connection. In his session at 18th Cloud Expo, Bradley Holt, a Developer Advocate with IBM Cloud Data Services, discussed...
Dec. 5, 2016 01:00 AM EST Reads: 3,325
Between 2005 and 2020, data volumes will grow by a factor of 300 – enough data to stack CDs from the earth to the moon 162 times. This has come to be known as the ‘big data’ phenomenon. Unfortunately, traditional approaches to handling, storing and analyzing data aren’t adequate at this scale: they’re too costly, slow and physically cumbersome to keep up. Fortunately, in response a new breed of technology has emerged that is cheaper, faster and more scalable. Yet, in meeting these new needs they...
Dec. 5, 2016 12:45 AM EST Reads: 1,804
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at 20th Cloud Expo, Ed Featherston, director/senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Dec. 5, 2016 12:45 AM EST Reads: 1,566
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
Dec. 5, 2016 12:30 AM EST Reads: 6,079
When it comes to cloud computing, the ability to turn massive amounts of compute cores on and off on demand sounds attractive to IT staff, who need to manage peaks and valleys in user activity. With cloud bursting, the majority of the data can stay on premises while tapping into compute from public cloud providers, reducing risk and minimizing need to move large files. In his session at 18th Cloud Expo, Scott Jeschonek, Director of Product Management at Avere Systems, discussed the IT and busin...
Dec. 5, 2016 12:15 AM EST Reads: 3,814
According to Forrester Research, every business will become either a digital predator or digital prey by 2020. To avoid demise, organizations must rapidly create new sources of value in their end-to-end customer experiences. True digital predators also must break down information and process silos and extend digital transformation initiatives to empower employees with the digital resources needed to win, serve, and retain customers.
Dec. 5, 2016 12:15 AM EST Reads: 1,158
"We are the public cloud providers. We are currently providing 50% of the resources they need for doing e-commerce business in China and we are hosting about 60% of mobile gaming in China," explained Yi Zheng, CPO and VP of Engineering at CDS Global Cloud, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 4, 2016 11:45 PM EST Reads: 917
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Dec. 4, 2016 10:45 PM EST Reads: 1,670
"Once customers get a year into their IoT deployments, they start to realize that they may have been shortsighted in the ways they built out their deployment and the key thing I see a lot of people looking at is - how can I take equipment data, pull it back in an IoT solution and show it in a dashboard," stated Dave McCarthy, Director of Products at Bsquare Corporation, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 4, 2016 10:45 PM EST Reads: 1,000
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Dec. 4, 2016 08:30 PM EST Reads: 1,805
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Dec. 4, 2016 07:00 PM EST Reads: 4,918
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
Dec. 4, 2016 06:30 PM EST Reads: 2,175