Statoil cuts contract duration for third Cat D drilling rig
Statoil plans to exercise its contractual rights to reduce the contract length on the Cat D semisubmersible drilling rig Songa Encourage by 132 days.
LIMASSOL, Cyprus – Statoil plans to exercise its contractual rights to reduce the contract length on the Cat D semisubmersible drilling rig Songa Encourage by 132 days.
Under terms agreed with Statoil for the four newbuild Cat D rigs, each of which is currently working for the company offshore Norway, the duration of the drilling contracts can be reduced by the same amount of time that the rigs were delayed (due to construction issues in the Far East), relative to a pre-agreed delivery window.
Earlier this year,Statoil notified owner Songa Offshore that it had exercised its rights to reduce the contract lengths on the Songa Equinox by 347 days and on the Songa Endurance by 184 days.
Late last month the fourth Cat D rig,Songa Enabler, began drilling for Statoil, around four months after its pre-agreed delivery window.
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