Transocean has been given a notice of early termination from ExxonMobil for its semi-submersible drilling rigs.

The contract for the ultra-deepwater drilling rig, GSF Development Driller I, was terminated by Esso Exploration Angola, ExxonMobil’s subsidiary.

The GSF Development Driller I which was operating for ExxonMobil under a daily rate of $367,000 was constructed by Singapore’s Jurong Shipyard in 2005. The rig’s drilling contract was supposed to expire in May 2016 with dismissal concluded in June 2016.

In line with the terms of this contract, Transocean has said that no compensation for the outstanding contract will be received as it does not have other contracts that allow for uncompensated termination for convenience.

According to Rigzone, at the begining of February, Transocean got another contract termination from Murphy Oil Corporation for the 2001-built ultra-deepwater drillship Discoverer Deep Seas.

Anita Fatunji