Samsung Heavy Finds Buyer for Cancelled Stena Drilling Rig

South Korean shipbuilder Samsung Heavy Industries says it has agreed to sell a semi-submersible drilling rig it had originally built for Stena Drilling to an unidentified European company for $500 million. The rig, a dynamically positioned harsh environment semi-submersible named Stena MidMAX, was originally ordered by an affiliate of Stena Drilling in June 2013 with a … [Read more...]

Stena Drilling Cancels Order for Semi-Submersible Drilling Rig

Aberdeen-based Stena Drilling says it has canceled a newbuilding contract for a semi-submersible drilling rig it had on order at South Korea's Samsung Heavy Industries. The company said Monday its affiliate Stena Atlantic had notified the shipbuilder that it has decided to exercise its right to cancel the contract for the construction of the Stena MidMAX, a dynamically … [Read more...]