NADL, Jurong make contingency plans for newbuild rig

North Atlantic Drilling Ltd. has issued an update on the delivery schedule for the newbuild semisubmersible drilling rig West Rigel.

Offshore staff

HAMILTON, BermudaNorth Atlantic Drilling Ltd. (NADL) has issued an update on the delivery schedule for the newbuild semisubmersible drilling rig West Rigel.

The company has agreed to a second amendment withJurong Shipyard in Singapore that extends the standstill period by a further three months to Sept. 2.

This will allow both sides to continue to seek commercial opportunities for the rig.

If they are unsuccessful, they plan to form a joint asset holding company for the unit, with NADL owning 23% and Jurong 77%.

06/07/2016

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