Statoil has chosen to terminate a rig contract with COSL while also suspending another agreement with the company.
The COSL Innovator, which had been in use when a man died during huge waves in the North Sea, had been on a long-term contract until 2020.
According to reports, a similar move last year by Statoil meant a contract for the COSL Pioneer was terminated.
Earlier today, Statoil and Shell revealed they would be putting a concept plan for the Bressay field on the UKCS on hold.