Offshore vessel contracted Transocean said it would receive a fee of $148million after Chevron opted to terminate a rig contract early.
The Discoverer Clear Leader vessel was initially contracted until October 2018, but Chevron has decided to return it in November 2017, instead.
According to Transocean, the option to terminate was part of the initial contract agreement between themselves and the subsidiary company.
The compensation payment, which is the present value of the operating dayrate less the operating costs per day, is expected to be handed over in the fourth quarter of 2017.
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