Transocean Gets Early Termination Notice for GSF Development Driller I
Transocean Ltd. announced Tuesday that the company has received a notice of early termination from Esso Exploration Angola (Block 15) Limited for the GSF Development Driller I (UDW semisub).
The rig's drilling contract is expected to end in May 2016 with the demobilization completed in June 2016. In accordance with the terms of this contract, the company will not receive a payment compensating it for the remaining contract term.
The company does not have other contracts in its backlog that permit uncompensated cancellation for convenience.
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.
- Oil Majors Offload Gulf of Mexico Fields to Hunt Bigger Finds (Oct 12)
- Offshore Guyana Pipe Coating Contracts Go to Shawcor (Oct 05)
- ExxonMobil Cranks Up New Unit in Beaumont (Sep 27)
Company: Transocean Ltd. more info
- Offshore Brazil Contract Extension Goes to Transocean (Sep 28)
- Transocean Wins Multi-well NCS Contract for New Semisub (Sep 21)
- Driller Transocean Eyes Improved Lease Rates, Activity In 2019 (Sep 05)