SEADRILL has terminated a pair of newbuild jack-up contracts at a bankruptcy-hit Chinese yard in Dalian amid continued red ink for the rig giant in the second quarter as nearly half of its fleet remained laid up. The company said that it had now terminated contracts covering the West Diome and West Mimas rigs at Dalian Shipbuilding Industry Offshore Company, which has entered into a bankruptcy process. London-based rig contractor Seadrill will also file claims for repayment of yard installments, plus interest and damages, on eight earlier contracted newbuild jack-ups at the Chinese yard as part of arbitration proceedings.
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