Source: Economic Times
BP terminated contracts for two deepwater oil drilling rigs in the Gulf of Mexico as the British oil company slashes its exploration budget due to fallen oil prices.
Offshore drilling company Ensco said it had received notice to terminate BP-operated rig DS-4 in the Gulf of Mexico. Rival Seadrill Partners announced this week that BP had also cancelled a contract for the West Sirius field in the same region.
BP confirmed the termination of both contracts, saying the rigs were “surplus to requirements following BP’s adjustment of capital expenditures in response to the new, lower oil price environment.