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Thursday, December 8, 2016
Seadrill Partners received a notice of termination from Tullow Ghana for the use of the semi-submersible rig, West Leo. The notice of termination follows the October declaration of force majeure declared by Tullow on the rig.
In October Tullow declared force majeure on the West Leo due to a moratorium on drilling on the field the rig had been hired for. The moratorium stemmed from a maritime issue between Ghana and Cote d’Ivoire.
Seadrill, however contends that Tullow has other reasons for the contract termination. “Further or alternatively, Tullow has alleged that the contract has been discharged by frustration. We do not accept that the contract can be terminated or discharged as alleged and our claim in the English High Court proceedings will be amended to reflect this,” the company said in a statement.
Seadrill Partners is entitled to an early termination fee of 60% of remaining contract backlog. The amount is subject to an upward or downward adjustment depending on the work secured for the West Leo over the remainder of the contract term, plus other direct costs incurred as a result of the early termination.
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