French multinational Total has cancelled its $250million deal with Aker Solutions’ oilfield services subsidiary over its well intervention vessel.
The decision comes nine months into the two-year contract covering the use of Skandi Aker in Total’s Angolan operations.
The value of the remaining contract period is about $150million which will be removed from the order backlog, Aker Oilfield Services said in a statement.
All financial consequences of the termination will be assumed by the Akastor group, who will take over the subsidiary when it separates from Aker Solutions in September, it added.
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