Esso Exploration Rejects Marine Drilling Rig

Tuesday, August 17, 1999
Marine Drilling Cos. Inc. announced it tendered its Marine 700 semi-submersible drilling rig to Esso Exploration Inc. for acceptance under their five-year contract, but Esso rejected it in the belief the unit was not ready. Marine Drilling and Esso, a unit of Exxon Corp., are currently holding discussions in an attempt to resolve issues associated with these recent developments. Marine Drilling believed it would meet its July 15 contract deadline. In a letter to Marine Drilling in June, however, Esso declared it would exercise its right to terminate the contract "if Marine 700 does not meet quality or schedule requirements." Marine 700 has been under construction at the Ham Marine shipyard in Pascagoula, Miss. It was scheduled to work for Esso in the western Gulf of Mexico under a five-year contract at a daily rental rate of $165,410, plus adjustments.
Maritime Reporter October 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Cutter Diligence to Return

The crew of the Coast Guard Cutter Diligence is scheduled to return to their homeport in Wilmington Saturday following a 45-day patrol in the Caribbean Sea. During their patrol,

Zarmati joins Fathom

Fathom has engaged 44-year cruise industry veteran Maurice Zarmati to work with the burgeoning company. Fathom, which provides a different kind of cruise that

HMS Protector Deployed to Antarctic

Ice ship HMS Protector is heading for waters no Royal Navy vessel has visited in 80 years as she begins a marathon deployment to Antarctica. The Plymouth-based


US Senators Introduce Bill to Limit Offshore Drilling

A group of U.S. Senators on the West Coast have introduced a bill Wednesday aiming to prohibit offshore drilling on the outer continental shelf of California, Oregon and Washington.

Danish-South Korean Co-operation Strengthened

The Danish-South Korean Green Growth Alliance met for roundtable talks yesterday. The Minister for Business and Growth's meeting with the South Korean Minister

Seadrill Hopes to See Market Turn in 2017

Offshore rig driller Seadrill is facing another two years in the doldrums but hopes the international rig market could turn around in 2017.   Rig rates have more

Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1625 sec (6 req/sec)