Premier and Noble Energy entered into a contract with Ocean Rig UDW on 3 June 2014, for the provision of the Eirik Raude drilling unit for an exploration drilling campaign in the Falkland Islands.

Following a number of material operational issues with the Eirik Raude rig during the term of the contract to date, Premier and Noble Energy issued a termination notice to Ocean Rig on 11 February 2016, terminating the contract with immediate effect. As a result, Premier will no longer be drilling the Chatham exploration well during the current campaign.

Tags: Noble Energy, Premier Oil