This third and most recent amendment now extends the delivery deferral period to Jan. 6, 2017. The extension allows the parties to continue to explore commercial opportunities for the unit, NADL said.
As previously agreed, in the event no employment is secured for the unit and no alternative transaction is completed, the two will form a joint asset holding company for joint ownership of the unit, to be owned 23% by NADL and 77% by Jurong.
The West Rigel is a sixth-generation semisubmersible based on a Moss Maritime CS60 design. NADL previously said that the unit will be winterized.