Norway’s Siem Offshore has received notices of contract termination for two of its AHTS vessels and one PSV in Russia.

The contracts for two AHTS vessels “Siem Topaz” and “Siem Amethyst” and for one PSV “Siem Pilot” were announced back in 2013.

According to Siem Offshore, the contract was with Karmorneftegaz SARL in respect of the seasonal work in Kara Sea for the year 2015. Karmorneftegaz will pay an early termination fee.

Karmorneftegaz SARL is the joint venture established between Russia’s oil giant Rosneft (66.67%) and U.S. oil major ExxonMobil (33.33%) for the drilling project in the Kara Sea.

In October, ExxonMobil had to pull back from its joint Kara Sea project with Rosneft due to sanctions imposed against Russia by the U.S. over the Moscow’s role in the Ukraine crisis.

Prior to ExxonMobil’s withdrawal, Rosneft and ExxonMobil struck oil at the world’s northernmost well the Universitetskaya-1, in the Kara Sea, offshore Russia.

Source: www.offshoreenergytoday.com

Please leave comments and feedback below