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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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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