Statoil and Aker Solutions have agreed to cancel the contract for category B rig hire, the company said in a release.
The contract for Cat B services was signed in April 2012, since which time supplier Aker Solutions, supported by Statoil, has worked to define and solve the technical challenges posed by the rig's subsea systems.
Although significant progress has been made in tackling these challenges, further technology qualification still remains.
Aker Solutions took the initiative to talk with Statoil regarding the terms and conditions for the Cat B services. The parties subsequently agreed to cancel this contract.
"Unfortunately, we have to declare that it is impossible to achieve this important, major industrial project within the scope of the current contract," says Jon Arnt Jacobsen, Statoil's chief procurement officer.
Each of the parties will meet their own incurred costs.
The Category B concept was developed for undertaking different types of well intervention with the aid of cable and coiled tubing operations. In addition, this type of rig has been designed for through tubing rotary drilling (TTRD).
"We still foresee a need to develop the supply of this kind of service. Statoil will now evaluate the project and consider alternative solutions," says Ivar Aasheim, senior vice president for field development in Statoil.
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