Ocean Rig said two rigs from its fleet will be coming out of employment soon with no immediate job opportunities on the horizon.
The company said the semi-submersible Eirik Raude will finish up in the Falkland Islands in January while semi-submersible Levi Eiriksson will have completed work in Norway by March 2016.
Ocean Rig said the current intention is for both to be cold stacked while disposing of or scrapping the rig is put under consideration.
George Economou, chief executive of Ocean Rig, said: “The market continues to remain challenging due to the massive spending cuts initiated by the oil companies.
“ In this environment, cash preservation and liquidity remain our number one priority and we will adjust our available capacity to the new market conditions.
“For rigs that we cannot secure long-term employment that are coming up for their 5-year SPS we will cold stack the units and in the case of the semisubmersible rigs seriously consider all our options including disposal or scrapping.”
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