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.
