Statoil has opted to terminate one rig charter and suspended a second with Chinese operator China Oilfield Services Ltd (COSL).
The Norwegian energy giant said it had decided to use its contractual right to terminate the contract with COSL Offshore Management for the chartering of the COSL Innovator.
“The conditions for terminating the contract signed with COSL Offshore Management AS have in our opinion been met, and we therefore choose to use our contractual right to terminate the contract,” says Geir Tungesvik, Statoil’s senior vice president for drilling and well.
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