Premier Oil and Noble Energy terminate drilling contract in Falkland Islands

Source: Premier Oil

Premier and Noble Energy entered into a contract with Ocean Rig in June 2014, and terminated the contract in February 2016 after operational issues.

Premier Oil and Noble Energy entered into a contract with Ocean Rig UDW (“Ocean Rig”) on 3 June 2014, for the provision of the Eirik Raude drilling unit for an exploration drilling campaign in the Falkland Islands.

Following a number of material operational issues with the Eirik Raude rig during the term of the contract to date, Premier Oil and Noble Energy issued a termination notice to Ocean Rig on 11 February 2016, terminating the contract with immediate effect. As a result, Premier will no longer be drilling the Chatham exploration well during the current campaign. However, we are in discussions with the Falkland Islands Government regarding the possibility of drilling this prospect in the future.

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