Statoil cancels contract with sub-leased rig 

Statoil cancels contract with sub-leased rig 

Statoil cancels contract with sub-leased rig 

The FINANCIAL -- Statoil has decided to cancel the contract with Maersk Gallant.

The Maersk rig has been on contract with Statoil for two years, since 21 August 2014, and since 9 October it has been sub-chartered to ConocoPhillips.

Between 14 February and 21 August 2016 the Maersk Gallant is on a new contract with Total, who will pay cancellation fee according to the former contract, according to Statoil.