"The BOP has been checked and tested by the OEM representative on board the rig and declared safe and ready for operations. Island Drilling is evaluating all legal recourse at its disposal to contest the termination."
The partners have decided to defer the drilling programme offshore Equatorial Guinea, until they can find another rig and drilling contractor.
As a result, the drilling company said the rig would be in Equatorial Guinea for around 230 days. Trident also has another two options it could exercise.
Trident Energy has signed up a rig from Island Drilling for work offshore Equatorial Guinea.
Trident Energy will begin drilling in Equatorial Guinea’s Block G on June 22, following the arrival of the Sapphire Driller rig.
Panoro Energy has struck a deal to buy assets owned by Tullow Oil in Equatorial Guinea and Gabon for up to $180 million.
Equatorial Guinea expects foreign direct investment in 2021 could reach $1.11 billion, according to the energy ministry, while production is expected to increase.
Trident Energy has begun a 4D seismic survey offshore Equatorial Guinea on Block G.
Equatorial Guinea expects $1.4 billion to be invested in the country in the 2020 fiscal year, with a mix of exploration and appraisal drilling.