Offshore

Statoil to pay large fine in rig dispute

Statoil did not have the right to terminate a drilling rig contract prematurely, a court has ruled. Now the Norwegian oil major must pay a large fine to the Chinese company, reports Dagens Næringsliv.
Photo: COSL
Photo: COSL
by KATRINE GRØNVALD RAUN

Statoil must pay close to NOK 4 billion (493 million) in damages to rig company COSL, ruled the Oslo District Court on Tuesday, according to Norwegian business daily Dagens Næringsliv.

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