Transocean sees early end of contract with Statoil

Statoil, a Norwegian oil major, has decided to cancel the contract with Transocean, a drilling contractor, for the drillship Discoverer Americas.

The drillship has been on contract with Statoil since 2009, supporting Statoil’s exploration activities in East and North Africa and the Gulf of Mexico.

Statoil was in the current environment unable to secure additional activity for the rig for the remainder of the contract period, ending in May 2016, the Norwegian giant said.

“Discoverer Americas has been a very good performer for Statoil, contributing to test deep-water and ultra-deep water prospectivity in Tanzania, Egypt, and the Gulf of Mexico and appraising the multiple high-impact discoveries in Tanzania.

“All operations were performed with solid drilling efficiency and a good safety culture. Without additional activity lined up, we unfortunately have to let the rig go prior to contract end,” says Tore Aarreberg, head of rig procurement.

Transocean says it will receive an early termination payment fully compensating the company as provided for in the contract.

In the second half of 2015, Statoil cancelled two rig contracts; one for COSL Pioneer some 13 months before the expiry date in August 2016, and the other one for Songa Trym, four months before the expiration of the contract on March 4, 2016. The company explained the cancellations were due to overcapacity in its rig portfolio and inability to find work for those rigs.

In addition, in July 2015, the company suspended the contract for Saipem’s Scarabeo 5 rig until March 1, 2016.

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