Russia’s Rosneft cancels deal to use rig for Artic drilling

MOSCOW, Mar 25 (PRIME) -- Russian oil major Rosneft has cancelled its order to use Northern Offshore’s drilling rig which it planned to employ in Arctic drilling with Norway’s North Atlantic Drilling Limited (NADL), Northern Offshore said in a statement Wednesday.

Rosneft and NADL signed a long-term agreement for shelf drilling in July 2014. The deal implies the purchase of six drilling rigs until 2022.

The two companies also earlier signed an asset swap agreement. In November 2014, Rosneft postponed closing of the deal to acquire 30% in NADL from Seadrill Limited for 150 land drilling units until the end of May, 2015.

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