Premier, Noble Terminate Contract for Eirik Raude Rig
UK independent explorer Premier Oil announced Friday that and partner Noble Energy have issued a notice that terminates their contract with Ocean Rig for the Eirik Raude (UDW semisub) drilling unit with immediate effect. Premier said the decision was made following "a number of material operational issues with the Eirik Raude rig during the term of the contract to date".
Premier said that, as a result of the cancellation of the rig contract, the partners will no longer be drilling the Chatham exploration well during the current campaign. However, it added that it and Noble are in discussions with the Falkland Islands government regarding the possibility of drilling the prospect in the future.
Sources familiar with the matter told Rigzone that general mechanical issues with the rig were a factor as was a problem with the blowout preventer (BOP) when drilling the Isobel Deep well, located in the North Falkland basin in April last year. The BOP issue caused Premier to suspend operations at Isobel Deep for two weeks.
WHAT DO YOU THINK?
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.
Manages 14 Offshore Rigs
- Avenue Capital Urges Ocean Rig To Hire Advisers (Oct 17)
- Rig Contractor Ocean RIG Files For Bankruptcy Protection In US (Mar 28)
- Ocean Rig Acquires an Ultra Deepwater Drillship for $65M (Apr 27)
Company: Noble Energy more info
- Gulfport Names Noble Energy Executive As Operations Chief (Jan 03)
- US Shale Producers Promise both Higher Output and Returns (Nov 03)
- Fault at Israel's Tamar Gas Field Prompts Use of Dirtier Fuels (Sep 22)
Company: Premier Oil more info
Operates 1 Offshore Rigs
- Independents Go Big in North Sea (Jan 03)
- European Oil Producers' Weak Hedging Shows Bet on Price Rebound (Jul 31)
- Mexico Oil Privatization Pays Off With Billion-Barrel Find (Jul 12)