Termination of Island Innovator Oil Rig Contract in Equatorial Guinea Due to Safety Concerns
Trident Energy, Panoro Energy, and Kosmos Energy terminated the contract for the Island Innovator semi-submersible oil rig over alleged safety concerns. The joint venture began a drilling campaign in January, but Panoro claimed the rig was unable to drill safely. Island Drilling defended the rig’s safety record and is considering legal action.