Chevron terminates Maersk Drilling contract

Cabinda Gulf Oil, an affiliate company of Chevron in Angola, has sent an early cancellation notice to Maersk Drilling for semisubmersible Maersk Deliverer.

The platform has been on contract with Chevron since May 2012, and is due to end in December 2016 with Maersk Drilling entitled to receive compensation for the remaining part of the contract.

“With regret we take note of the contract termination, and it is a reminder of the very challenging conditions in the offshore rig market with oil companies restraining activities and capital spending in response to the lower oil price environment,” said Michael Reimer Mortensen, Maersk Drilling’s head of global sales.

“We expect to base the rig in West Africa, and will continue to explore opportunities with our customers in primarily West and East Africa, which remain strategic markets for us,” he added.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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