B777 First Officer reported engine failure during cruise which resulted in a diversion to safe landing.

Narrative

On a Maintenance Ferry back to ZZZ. Aircraft was not ready and needed more maintenance before we could leave. This process caused us to time out and we were redispatched to fly into ZZZ1. All phases were uneventful and debriefed before the Relief Pilots went on break. Our flight was designated to perform a maintenance verification which we accomplished appropriately 30 mins after level off. All engine parameters were checked and normal so we sent the verification Maintenance Request code to confirm the check was complete and satisfactory. We performed a crew change at approximately XA:05 and I briefed the crew while the Capt went to break. Nothing significant was reported and I followed the Capt into the upper Bunk a short time later. I went to sleep fairly quickly. We were awakened by the Relief Pilots with about 1:15 hours left to land into ZZZZ. This was my first awareness of the situation of the low oil quantity; low oil pressure; engine shutdown; and diversion to ZZZZ. The other 3 pilots decided to let me get my rest so I could be alert as the PM for our arrival. I thought this was a great decision. As I awoke; the Capt (PF) informed me of the situation and he informed me he knew and they decided to make sure I was fully rested. We both proceeded to the flight deck and received a full briefing on the situation. All checklists were completed for the eng shutdown and diversion. I patiently waited to take my seat as PM FO to make sure I knew the entire situation before resuming my role as flying PM. Shortly after I took my seat; I performed several functions that required my attention. These were the fuel imbalance checklist; reviewing landing data; getting the weather; follow up coordination with ZZZZ Center; coordinating with dispatch for our arrival plan/runway; reviewing approach plates; and conducting the descent checklist. All agencies were very accommodating and made the entire arrival to shutdown very smooth. CRM was used throughout the entire process and helped immensely to formulate a plan which we executed