KAN TAN 3

Marine Drilling announced that it terminated its charter agreement for the Kan Tan 3 (also known as the Marine 510) semi-submersible drilling rig with the owner, Shanghai Bureau of Marine Geological Survey. Under the terms of the agreements with the owner, if market conditions improve and the rig becomes available to work outside of Chinese waters, Marine Drilling and the rig owner anticipate entering into another charter agreement upon mutually agreeable terms or upon the same terms as the original charter agreement.
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