Statoil terminates North Atlantic Drilling contract

Statoil terminates North Atlantic Drilling contract

North Atlantic Drilling, part of John Fredriksen’s Seadrill, has announced that it has received a notice of cancellation from Statoil Petroleum related to the contract for the jackup rig West Epsilon.

The West Epsilon was originally contracted for drilling services in Norway since December 2010 until the end of December 2016. In accordance with the contract the company will receive a lump sum payment of approximately $11m.

According to Statoil, the rig will be sent ashore for equipment demobilisation after completing operations, by the first half of October.

The West Epsilon is currently being marketed for new employment.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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