Offshore drilling firm Seadrill has taken a £3million hit after one of its rigs was sidelined with technical problems.
The company, which said last month it expected 60 days off-hire time this quarter, has now increased that figure to 90 days after the West Aquarius rig developed problems with its mooring system.
The shutdown of the rig, which has been working for ExxonMobil off the Canadian coast, will leave the firm with a $5million (£3million) contract loss.
“The root causes for the problems have been identified and are linked to equipment failures with the mooring winches,” the company confirmed.
“These are currently undergoing repair and testing. The total downtime for the West Aquarius in connection with this incident is presently estimated to be 58 days.
However, the firm said the downtime would not impact on predicted dividends, with a order backlog still standing at $4.4billion.