Shell has terminated the contract for Transocean semi-submersible Polar Pioneer, having made the rig famous this year for all the wrong reasons.
Polar Pioneer was the very public face of Shell’s failed Arctic drilling campaign alongside Noble Corporation drillship Noble Discoverer, which also got the chop from Shell this month.
In October 2013, Shell signed a a three-year contract for the rig at a dayrate of $620,000. Having commenced operations in August 2014, the deal was set to expire in July 2017.
Transocean said it will be compensated “through a lump-sum payment that includes adjustments for reduced operating costs and demobilization to Norway.”
Polar Pioneer was the subject of fierce protests from Greenpeace activists and also ran into trouble by failing a US Coast Guard (USCG) safety inspection while in Seattle.