12th Feb 2016 07:49
LONDON (Alliance News) - Premier Oil PLC on Friday said it has terminated its contract with Ocean Rig UDW following a number of material operational issues with the Eirik Raude drilling unit in the Falkland Islands.
Premier entered into the contract in June 2014 and issued a termination notice to Ocean Rig on Thursday, to end the contract with immediate effect.
As a result, Premier will no longer be drilling the Chatham exploration well during the current campaign, but said it is in discussions with the Falkland Islands government regarding the possibility of drilling this prospect in the future.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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