VENTURES–AFRICA – Camac Energy, which is listed in New York and Johannesburg, said on Monday it had terminated its contract with Northern Offshore International Drilling Company for the drillship Energy Searcher.

It terminated the contract with immediate effect because of Northern’s “repudiatory” breach of Contract and other material breaches of the drilling contract by Northern, it said.

These breaches have caused significant damages and losses, including delay damages and wasted spread costs to the company, it added.

Camac said it is considering all legal options to enforce its rights under the contract.

Camac gets new partner for project in Nigeria

Its Nigeria project, Oyo Field drilling and completion operations are now being conducted by the Transocean Sedco Express semi-submersible drilling rig, which arrived on location in December last year.

In addition, production is still expected to be online by the end of the first quarter this year.

Camac is an independent oil and gas exploration and production company focused on energy resources in sub-Saharan Africa. Its asset portfolio consists of nine licenses across four countries covering an area of 43,000 square kilometres. These include current production and other exploration projects offshore Nigeria, as well as exploration licenses offshore Ghana, Kenya, and Gambia, and also onshore Kenya. It is headquartered in Houston, Texas.