Petrobras terminates Diamond Offshore rig contract two years early

Andy Grzymala ATGphotos.com
Photo by: Andy Grzymala ATGphotos.com

Offshore drilling company Diamond Offshore has lost its contract for the Ocean Valor offshore drilling rig.

In a statement on Friday the company said that it on August 30,  received notice of contract termination from the Brazilian oil giant Petrobras for the semi-submersible drilling rig.

The drilling contract, which was extended in 2014, was estimated to conclude in accordance with its terms in October 2018.

“The company does not believe that Petrobras had a valid or lawful basis for terminating the contract, and the company intends to defend the rights of its subsidiary under the contract,” Diamond Offshore said.

The Ocean Valor is an ultra deepwater semi-submersible drilling rig built by Sembcorp Marine’s Jurong Shipyard in Singapore. It was built in 2008 and entered service in 2009. It is an ExD Millenium model designed by Friede & Goldman. It can accommodate 164 crew members and can operate in a water depth of 10,000 ft and drill as deep as 40,000 ft.

The Ocean Valor semi-sub has been working for Petrobras since its delivery.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply