Tag: Ocean Rig CEO George Economou

• Tuesday, February 16th 2016 - 08:42 UTC

  Ocean Rig determined to collect 'termination fee' from Falklands' Premier Oil

  

  Ocean Rig UDW Inc. has officially announced that two of its drilling contracts have been terminated, one of them in the Falkland Islands where its “Eirik Raude” was working for Premier Oil as the main operator. Ocean Rig is demanding a termination fee of several million dollars and in case Premier Oil contests the payment, “we intend to commence arbitration proceedings”.

• Friday, October 9th 2015 - 07:39 UTC

  Eirik Raude oil rig operating in Falklands, faces scrapping after contract ends January 2016

  

  Ocean Rig, the Greek offshore drilling contractor has highlighted in its latest fleet update two rigs coming out of employment shortly with no immediate prospects. Both rigs have little or no “further prospects of employment” according to Ocean Rig and will be cold stacked while disposing of or scrapping the rigs is considered.