Global offshore deepwater drilling services provider Ocean Rig UDW received a termination notice from Italian giant Eni for the Ocean Rig Olympia deepwater drillship.
According to Ocean Rig, “due to the dramatic fall of the crude oil price and the volatile market context, Eni has reassessed its drilling activities and taken the decision to exercise its right of terminating” the contract of the Ocean Rig Olympia.
The sixth generation deepwater drillship features the enhanced Saipem 10000 design, and was under contract with Eni offshore Nigeria and Angola that began Q3 2015 and was set to expire in June 2016.
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Image of the Ocean Rig Olympia, courtesy of Ocean Rig.
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