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.

Tagged with:

Pin Angola

Want to read more?

Subscribe to African Energy

View subscription options

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