Statoil cuts short Transocean drillship contract

Statoil has terminated a contract with Transocean for the drillship Discoverer Americas, which was scheduled to run through to the end of May 2016.

Transocean said that it will receive an early termination payment for the cancellation, as outlined in the contract.

The drillship has most recently been operating in the Gulf of Mexico, and has been on contract with Statoil since it was delivered in 2009.

In 2014, Statoil signed extensions for the drillship to work off the coast of Tanzania for $735,000 per day, but earlier this year a new rate of $590,000 per day was negotiated which saw the vessel head back to the Gulf of Mexico where it had operated previously.

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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