ExxonMobil terminates Seadrill Partners contract

ExxonMobil terminates Seadrill Partners contract

Seadrill Partners has announced that it has received a notice of termination for the contract for the drillship West Capella, chartered to ExxonMobil for work at the Usan Field in Nigeria.

In accordance with cancellation for convenience provisions in the contract, Seadrill Partners will receive a payment of around $125m plus other direct costs incurred as a result of the early termination.

The West Capella is currently being marketed for new work and is expected to be in Tenerife during its idle period.

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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1 Comment

  1. Avatar
    John
    May 16, 2016 at 8:23 pm

    According to Norwegian analysts Seadrill is “unable to meet its financial commitments.”

    http://fredriksenwatch.blogspot.de/2016/05/seadrill-cannot-meet-its-financial.html