Petronas terminates charter of Eurasia jack-up drilling rig

Eurasia Drilling’s jack-up rig Saturn has had its charter in the Caspian terminated by Petronas Carigali, effective October 8.

The drilling contract was originally due to expire on January 8, 2016.

The London-listed company will receive an early termination fee of 100% of the undisclosed contract rate for the 30 days commencing October 8, and 85% of the rate for the remaining 62-day period.

The 2001-built jack-up rig had been engaged in drilling operations and workovers for Petronas in offshore Turkmenistan in the Caspian Sea.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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