The planned move is part of a wider restructuring within the company as it looks to increase efficiencies and support its global strategy.

However, the decision has already claimed its first casualty with incumbent chief executive Alf C Thorkildsen opting to leave the company.

Seadrill says it can further improve its efficiency by reducing the size of the Seadrill Management and by moving several of the functions to the operating regions.

The John Fredriksen-controlled drilling outfit has operated its management service company out of Stavanger since acquiring Smedvig in 2006.

But since then it has established strong regional operational centers with more than 400 people in Houston, Rio, Singapore, and Dubai.

It also feels that the Stavanger location may “constrain its aggressive growth plans, for which access to qualified personnel is critical.”

Furthermore, the Norwegian cost level and distance from Seadrill’s core markets are said to make 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,” it said in a statement Wednesday.

Several locations including London, Dubai, Singapore and Houston are under consideration with a final decision expected before year end.

Seadrill’s management team is said to be supportive of the board’s review of locations and have “agreed to re-locate, if necessary.”

Fredrik Halvorsen, currently the chief executive of Archer Ltd, has been appointed by the board to succeed Thorkildsen.

“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,” said John Fredriksen.

“Alf joined us as part of the Smedvig acquisition in 2006 and has been an integral part of the Seadrill growth story.”

“He has overseen significant expansion of the company and has established an experienced management team.”

Fredriksen said the decision to consider moving Seadrill’s central management function should be seen as a “dynamic decision to adapt to a changing market.”

He added that four of Seadrill’s 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,” he said.