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Equinor to pay large fine in rig dispute

A court has ruled that Equinor did not have the right to terminate a drilling rig contract prematurely. Now the Norwegian oil major must pay a large fine to the Chinese company, reports Dagens Næringsliv.

Photo: COSL

Equinor, formerly known as 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.

The case concerns the rig COSL Innovator, for which Equinor terminated its contract after an accident on the rig resulted in the death of an employee back in 2015.

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