Falcon Energy Group says it has cancelled three jack-up newbuilding rigs under construction at a shipyard in China.
The Singapore-listed company said in a regulatory filing that as a result the performance guarantees of $588.6m were “no longer in effect”.
The group said matters concerning a fourth rig was currently under discussion and that a conclusion was expected shortly.
Associate company FTS Derricks originally contracted the four rigs in 2013 at Shanhaiguan New Shipbuilding Industry.
