FGH And Ocean Rig Sign Cooperation Agreement

Friday, December 01, 2000
Friede Goldman Halter (FGH) and Ocean Rig have signed a cooperation agreement related to the completion and delivery of Ocean Rig's Bingo 9000-1 and Bingo 9000-2 offshore drilling rigs, which are currently being outfitted and Friede Goldman Offshore's Pascagoula, Miss. shipyard.

The agreement results from a joint effort of Friede Goldman and Ocean Rig to develop an acceptable plan and schedule for the completion and delivery of the two fifth-generation rigs, and marks a significant step as the two rigs near completion. This decision establishes new delivery dates for the rigs, with a delivery date for Bingo 9000-1 set for March 2001, followed by Bingo 9000-2 on June 1, 2001.

Also outlined in the agreement is a specific incentive plan geared toward the completion of Bingo 9000-2. According to terms outlined in this plan, Ocean Rig will pay an incentive bonus of up to a total of $5 million to Friede Goldman as Friede Goldman meets certain pre-determined progress targets at the end of each calendar month between now and April 15, 2001.

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

BMT Oceanica Wins Major Water Corporation Bid

Marine and coastal environment specialist, BMT Oceanica (BMT), a subsidiary of BMT Group Ltd, is delighted to announce that it has won the bid to provide Ocean

Hornbeck Offshore Ride High on Q2 2014 Results

Hornbeck Offshore Services, Inc. has announced its financial results for the second quarter ended June 30, 2014.  Following are highlights for this period and excerpts

BAE Systems Awarded Two Navy Contract Modifications

The US Department of Defense informs it has awarded separate contracts to BAE Systems in Jacksonville and in Norfolk for ship repairs and modifications as follows: 1.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.0884 sec (11 req/sec)