Hamed Khorsand's questions to Seadrill Ltd (SDRL) leadership • Q3 2024
Question
Hamed Khorsand asked about the dynamics of customer negotiations, questioning if delays are due to customer-side issues like supply chains or oil price uncertainty. He also inquired about the status of special surveys scheduled for 2025.
Answer
EVP and CCO Samir Ali attributed customer delays to a 'big pot of uncertainty,' including commodity prices, supply chain issues, portfolio reallocations, and capital returns, which is causing project deferrals from 2025 into 2026. Regarding surveys, President and CEO Simon Johnson confirmed an ongoing SPS on the West Neptune and one scheduled for 2025, but also highlighted that out-of-service time can be driven by contract preparation needs for new long-term contracts.