FGH, Ocean Rig End Dispute

Monday, March 12, 2001
Norway's Ocean Rig and Friede Goldman Halter signed an agreement, ending a legal dispute over the building of two drilling rigs that was halted earlier this month.

"Work on the rigs, which was suspended briefly by Friede Goldman, causing Ocean Rig to commence arbitration and other legal proceedings against Friede Goldman, resumed in full this morning," it said in a statement to the Oslo Stock Exchange.

"Both companies believe that this latest agreement ... reflects the strong interest of both companies in allocating resources as effectively as possible to complete the remaining work on the rigs," it said.

Fride Goldman, based in Gulfport, Miss., halted work on the outfitting of two semi-submersible drilling rigs for Ocean Rig, saying it had previously warned that it did not intend to complete the rigs without a new agreement between the parties.

Ocean Rig subsequently began arbitration proceedings against it in London for the two Bingo 9000 rigs at Goldman's Pascagoula yard in Mississippi.

Under the agreement Ocean Rig will pay Goldman a contractually established rate for equipment, personnel and labour provided by Friede Goldman to cover the costs of completing the project, rather than a predetermined lump sum, it said.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

N.Korean Navy Incursion Draws Warning Shots

A North Korean patrol boat crossed into South Korean waters early on Monday and retreated after the South Korean navy fired warning shots, a South Korean military official said.

DP World: Chairman also Appointed CEO

Dubai's DP World has appointed chairman Sultan Ahmed bin Sulayem as permanent chief executive with immediate effect, the port operator said on Monday, two weeks

U.S.-Georgian Consortium Wins Black Sea Port Contract

A U.S.-Georgian consortium has been awarded a $2.5 billion contract to build and develop a deep-sea port in Anaklia on Georgia's Black Sea coast, as the tiny ex-Soviet

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Pod Propulsion Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.0669 sec (15 req/sec)