Norwegian oil giant Statoil has cancelled a contract for a drilling rig several months early.
Statoil was meant to return North Atlantic Drilling’s West Epsilon rig at the end of December 2016.
But it has told North Atlantic it will have no use for the rig once it finished its current drilling work in the Norwegian North Sea in mid-October.
North Atlantic said it would receive a lump sum of about $11million from Statoil.
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