Seadrill gets termination for drillship deal

Seadrill, an offshore drilling contractor, has been hit by early termination of a drilling contract for a drillship operating in Southern Asia.

Seadrill Partners said on Thursday that it had received a notice of termination for the West Polaris contract.

As a result, the contract is expected to conclude in early November 2020.

Seadrill also said that this means that the backlog is expected to decrease by approximately $23 million.

The total contract value was previously expected to be approximately $72 million.

The 2008-built drillship started its contract with an unnamed client in Southern Asia in March 2020 and the contract was supposed to run until February 2021.