Transocean loses $112m backlog from semi-submersible breakdown

Offshore driller Transocean has had to amend a drilling contract with Enquest for the 1997-built semi-submersible rig Transocean Leader which will see its backlog reduced by $112m.

The rig, operating in the UK North Sea, suffered an equipment breakdown that could not be repaired in a timely fashion. Enquest, while having the right to cancel the contract, elected to complete its program with the rig with an amended dayrate and contract end date.

The rig is currently undergoing repairs and is expected to return to work in April for approximately 300 days, 210 of which are still with Enquest while the other 90 days are with Dana Petroleum via a new contract.

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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