Anadarko Petroleum Corp. sent Dolphin Drilling an early termination notice for the Belford Dolphin ultra deepwater drillship's charter contract off Mozambique.
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The Belford Dolphin. From Dolphin Drilling. |
Termination will be effective in early September 2015, about four months earlier than agreed upon, and will cost Anadarko US$52 million.
The Belford Dolphin is under a $701 million four-year charter contract with Anadarko offshore Mozambique that began 1 January 2012 and was scheduled to end in January 2016.
As of January 2015, only two drillships have been active in East Africa. One is the Belford Dolphin and the other is the Discoverer Americas for Statoil off Tanzania.
Fred. Olsen subsidiary Dolphin Drilling, says that the drillship will undertake its five-year class renewal survey in 2Q/3Q 2015, which is estimated to take approximately 100 days and cost $130 million.
Anadarko in Mozambique
As of today, Anadarko and its partners have discovered more than 75 Tcf of recoverable natural gas resources in Mozambique's Offshore Area 1 .
According to Anadarko’s 2015 capital program and guidance report, the company plans to continue progress at its Mozambique LNG project. Anadarko and partners are working in cooperation with the Mozambique government to advance the initial two-train LNG development with significant expansions expected in future years.
The massive natural gas discoveries have the potential to elevate Mozambique to the world’s third-largest exporter of natural gas, the company says.
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