Oil major Chevron has given an early cancellation notice to Maersk Drilling for its ultra deepwater semisubmersible.
The company made the move for the Maersk Deliverer which had been on contract with Chevron’s Angolan affiliate, Cabinda Gulf Oil (CABGOC).
The semisubmersible had been on contract since 2012, which had been expected to end in 2016.
Maersk Drilling is allowed to receive compensation for the remaining part of the contract.
Michael Reimer Mortensen, Maersk Drilling head of global sales, said: “With regret we take note of the contract termination, and it is a reminder of the very challenging conditions in the
offshore rig market with oil companies restraining activities and capital spending in response to the lower oil price environment.
“We expect to base the rig in West Africa, and will continue to explore opportunities with our customers in primarily West and East Africa, which remain strategic markets for us.”
The Maersk Deliverer was built in 2009 and was designed for year-round operation in areas including Brazil and the Gulf of Mexico.