North Atlantic Drilling (NADL) entered an amendment agreement with Jurong Shipyard that will extend the delivery deferral period of the West Rigel semisubmersible to 6 January 2017. The extension allows the parties to continue to explore commercial opportunities for the unit.
As previously agreed, in the event no employment is secured for the vessel and no alternative transaction is completed, NADL and Jurong will form a joint asset holding company for joint ownership of the rig, to be owned 23% by NADL and 77% by Jurong.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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