Angola: Cabgoc terminates rig contract
Issue 322
- 29 Apr 2016
| 1 minute read
Chevron affiliate Cabinda Gulf Oil Company Limited (Cabgoc) has given Maersk Drilling a notice of early contract termination for the ultra-deepwater semi-submersible Maersk Deliverer. The contract was due to end in December 2016, and Maersk Drilling is entitled to receive compensation for the remaining part of the contract. “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.
Don't have an account?
Register for access to our free content
An account also allows you to view selected free articles, set up news alerts,
search our African Energy Live Data power projects database and view project locations on our interactive map
Register