Statoil terminating rig contract

Statoil has, on behalf of the Troll licence, decided to use its contractual right to terminate the contract with COSL Offshore Management AS for the chartering of the mobile rig COSLInnovator.
“The conditions for terminating the contract signed with COSL Offshore Management AS have in our opinion been met, and we therefore choose to use our contractual right to terminate the contract,” says Geir Tungesvik, Statoil’s senior vice president for drilling and well. …