Venture Drilling has revealed that it will not be proceeding with a Letter of Intent (LoI) signed with a major operator for the hire of the Deep Venture drillship.Venture, owned 50/50 by Sinvest and Petrolia Drilling, said the parties did not agree on the scope of equipment to be installed on the vessel and decided in good faith not to proceed with the LOI, which was awarded late last year.
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