Seadrill Partners takes $20m hit from semi-tender termination

Seadrill’s Seadrill Partners has received an early termination notice for a contract for semi-submersible self-erecting tender assisted drilling rig West Vencedor.

The semi-tender rig was contracted for work offshore Cote d’Ivoire commencing in the third quarter of this year. West Vencedor has just come off contract in Myanmar and will now stay in Southeast Asia.

Seadrill Partners will receive an early termination payment, however says the cancellation will decrease its backlog by $20m.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.
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