Aasta Hansteen delay leads to rig cancellation

Statoil has canceled Seadrill’s contract for the semisubmersible West Hercules in the Norwegian Sea.

West Hercules
West Hercules

Offshore staff

STAVANGER, NorwayStatoil has canceled Seadrill’s contract for the semisubmersible West Hercules in the Norwegian Sea.

The rig was originally booked for development drilling at theAasta Hansteen field, starting this summer, with the contract due to expire on Jan. 31, 2017.

Last fall, however, Statoil and its partners decided to push back start-up of the field one year until the second half of 2018. They decided it would be better not to complete the wells too early prior to start-up.

Seadrill said it would receive a lump-sum payment of around $61 million, plus day rate and reimbursement of costs associated with demobilization of the rig, which is currently being marketed for new work.

05/23/2016

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