Pacific Drilling has cancelled the construction contract for the ultra-deepwater drillship Pacific Zonda after Samsung Heavy Industries failed to deliver the vessel on time.
In a statement, Pacific said Samsung had failed to “timely deliver a vessel that substantially meets the criteria required for completion of the vessel in accordance with the construction contract and its specifications.”
Pacific had made a $181million advance payment and will be seeking a refund of the installment payments.
The cancellation comes in the same week that Statoil blamed the delay to the start of the massive Mariner project in the North Sea on delays on topside delivery at the Daewoo ship yard in South Korea.