About us
Paratus Energy invests in international companies that provide services to the offshore energy industry. Current holdings comprise Seagems (50%) and Fontis Energy (100%).
Our holdings
Seagems
Seagems is a leading subsea services company, with a fleet of six pipe-laying support vessels which provide support, installation, flexible pipe laying and construction services. All vessels are currently operating under contract in Brazil. Established in 2011, Seagems is today a 50/50 joint venture between Paratus Energy and Sapura Energy Berhad, a global integrated energy services and solutions provider.
Fontis Energy
Fontis Energy is a premier provider of drilling services, with a fleet of five high-specification jack-up rigs currently operating under contract in Mexico. As a wholly owned subsidiary of Paratus Energy, Fontis Energy leverages decades of experience to deliver unmatched performance and efficiency. Since its inception in 2014, Fontis has maintained a track record of high utilization and operational excellence.
Policies
Policies
Paratus Energy’s corporate governance ensures compliance with all relevant laws and regulations that affect our activity throughout all regions in which we conduct business and operate. Paratus Energy requires that all employees observe the highest standards of integrity when conducting business. We ensure that these standards are implemented in our portfolio companies. Because our Group operates in the production of oil and natural gas, as well as associated services which may cause damage to the environment, we strive to conduct our business activities in an environmentally sustainable manner.
Our history
2011
Seabras JV (renamed to Seagems in 2024) is formed as a 50/50 joint venture between Seadrill and Sapura to build and charter multipurpose PLSVs to Petrobras.
The JV expands Seadrill’s oilfield services in Brazil together with the experienced oil services partner Sapura.
The first contracts awarded were 5-year contracts for three PLSVs in Brazil with Petrobras and started in 2014.
2014
Seadrill establishes SeaMex JV in 2014 with Fintech Advisory as 50/50 owners for the purpose of owning and managing the jack-ups working for a large state-owned petroleum company in Mexico, as well pursuing further opportunities in Mexico and the rest of Latin America.
2018
Seadrill New Finance Ltd. (renamed to Paratus in 2022) is incorporated in Bermuda to serve as a holding company within the reorganized Seadrill corporate structure following Seadrill’s first Chapter 11 restructuring, which included 50% stake in Seagems JV, 50% stake in SeaMex JV, 46.6% stake in Seadrill Partners and a minority stake in Archer.
2021
Seadrill New Finance Ltd. enters a restructuring support agreement with noteholders to amend and extend the terms of the secured notes. The transaction involves refinancing debt, issuing new secured notes, and ultimately the sale of SeaMex assets to a new subsidiary, SeaMex Holdings Ltd. (renamed to Fontis in 2024), a wholly owned subsidiary by Seadrill New Finance Ltd.
Seadrill Partners emerged from its own Chapter 11 restructuring, which eliminated Seadrill New Finance Ltd.’s ownership stake in Seadrill Partners.
2022
Seadrill New Finance Ltd. implements restructuring support agreements through a Chapter 11, transferring 65% of equity ownership of Seadrill New Finance Ltd. (reorganized as Paratus) to Noteholders (without any discount on the outstanding notional amount).
A full early retirement of Seabras Bank Facilities allows for greater financial flexibility at the Seabras JV.
2023
Seadrill reaches agreement to sell its remaining 35% stake in Paratus to a group of existing shareholders, and its management incentive deed. The Company subsequently re-acquired the management incentive deed from the shareholders by issuing common shares.
Seadrill terminates the management service agreements for Paratus and SeaMex.
Paratus subscribes to USD 15.5 million in new equity and converts subordinated loan to equity, increasing stake in Archer to ~24%.
SeaMex retires its debt.
2024
SeaMex changes name to Fontis Energy.
Seabras JV changes name to Seagems.
Seagems is awarded three-year contracts with Petrobras for its fleet, adding USD ~1.8 billion in backlog through 2028.
Paratus places a new USD 500 million bond to partly refinance existing notes.
Paratus Energy is listed at the Euronext Growth Oslo on June 28, 2024.
Paratus Energy is uplisted at the Euronext Oslo Børs on November 13, 2024.
2025
In September 2025, Paratus sells its shareholding (~24%) in Archer Limited.