Cancellation of rig contract

Statoil has, on behalf of the Aasta Hansteen licence, decided to cancel the contract with Seadrill for the West Hercules drilling rig. On contract with Statoil since 31 January 2013, the rig has carried out an exploration campaign offshore Newfoundland in Canada for the past 18 months. According to the original plan the Aasta Hansteen licence was to take over the rig in the second quarter of 2016 for a drilling campaign to be started around 1 July 2016.….