Finance & Investing
News Services
Newsletters
Get free industry updates via email.
Daily News
Weekly News
Equipment Updates
Weekly Job Register
Monthly Event Guide
Our privacy
pledge.


advertisement

BHP Billiton Issues Termination Notice for Transocean Rig

change text size

Otto Energy Ltd has received confirmation from farm-in partner, BHP Billiton, that it has issued a termination notice for Transocean's rig Deepwater Expedition (UDW drillship) due to the rig not passing key acceptance tests.

BHP Billiton has advised that it is progressing preparations to commence drilling the Cinco well and will provide an update on rig status when available.

Service Contract 55 is currently in Sub-Phase 4 which requires the drilling of the Cinco-1 deepwater well by August 5, 2012. Otto advises that at this point the date for commencement of drilling of the Cinco well is yet to be confirmed and will continue to update shareholders as information becomes available.

WHAT DO YOU THINK?

Post a Comment Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
John from Balmain. | Jan. 20, 2012
I think it is time Transocean got rid of their junk rigs. Rigs like the Seven Seas and the 534 should have had their bungs pulled long ago. They are just rotten old rust buckets. Maintaining the rig is important and in the last 20 years drilling companies have treated the maintenance people with utter contempt and disregarded looking for after the equipment. Without good maintenance the driller ends up with a pile of Pig Iron sitting there and the driller now being paid more than the maintenance people sits there twiddling his thumbs. The oil drillers need to get real and treat the maintenance people with respect and how they need to be treated. Bring our pay back into line with what the driller gets. End of story.

Ken | Jan. 18, 2012
Only will this kind of action make the drilling industry a safer place to work and also work with the oil companies to clean up the environment


Related Companies
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.

Most Popular Articles
From the Career Center
Jobs that may interest you
Principal Engineer
Expertise: Mechanical Engineering
Location: Houston, TX
 
Repair & Maintenance Techncian (Drilling)
Expertise: Maintenance Technician
Location: Midland, TX
 
Mechanical Assembler I - Sub
Expertise: Instrumentation Technologist
Location: Katy, TX
 
search for more jobs