Seadrill confirms cancellation of Arctic rig contract

Offshore staff

HAMILTON, Bermuda – Husky Oil Operations has canceled its drilling contract with Seadrill for the West Mira drillship.

In late 2012 Husky was awarded a five-year contract for the newbuild semisubmersible rig for operations offshore Canada and Greenland, with estimated revenue potential of around $1 billion.

Due to construction delays in South Korea, Seadrill had tentatively agreed with Husky to reduce the day rate, but the construction contract was subsequently canceled as Hyundai Heavy Industries could not deliver the rig within the required timeframe.

Seadrill remains in discussions with Husky to find an alternative solution.

09/22/2015

 

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