Sparta used to be called North Platte and was held by France's TotalEnergies.
CGS-CIMB's Lim Siew Khee has reiterated her 'add' call and 19 cents target price on Seatrium, following its announcement earlier this morning that it has secured a letter of intent from Shell to help build a rig.
The rig is to be used for the so-called Sparta project in the Gulf of Mexico, with Shell owning 51% and Norway's Equinor holding the remaining 40%.
