Seadrill has postponed delivery of two ultra-deepwater drillships from Daewoo Shipbuilding and Marine Engineering (DSME) by at least two years.

The West Aquila and West Libra were due to be delivered in the second quarter of 2016, but it has been agreed with the yard they will not be delivered until second quarter 2018 and first quarter 2019 respectively.

“This agreement significantly improves the company's near term liquidity position by deferring these capex commitments to 2018 and 2019 with no further payments to the yard until that time,” Seadrill said.