Companies

Ghana: Tullow terminates rig contract with Seadrill

Monday, 05 December 2016 11:33

(Ecofin Agency) - Seadrill Partners has announced that last week, it received a notice of termination from Tullow Ghana for the semi-submersible rig, West Leo.

This is coming after Tullow in October declared force majeure, claiming the field that the rig was hired for, was subject to a drilling moratorium by the Ghanaian government, due to a maritime border issue.

Tullow has purported to terminate the contract by reason of the alleged force majeure claim declared in early October 2016, which we have disputed,” Seadrill Partners said

According to the company, Tullow has terminated the contract for its convenience and in the event of termination for convenience, Seadrill Partners is eligible to an early termination fee of 60% of the remaining contract backlog, Offshore Energy Today reports.

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,” Seadrill added.

Anita Fatunji

 
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