FGH, Ocean Rig End Dispute Over Drilling Rigs

Monday, April 23, 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.

Friede 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 labor provided by Friede Goldman to cover the costs of completing the project, rather than a predetermined lump sum, it said.

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

People & Company News

Australian Defence Minister Says Would Not Trust Submarine Firm to Build Canoe

Australia's defence minister has said he would not trust state-owned Australian Submarine Corp (ASC) "to build a canoe", fuelling expectations that most work in

Matson Raises Guam, Micronesia Rates

Matson, Inc., a U.S. carrier in the Pacific, announced today that Matson Navigation Company, Inc. will raise its rates for the company's Guam/Commonwealth of the

Norwegian Buys Ship from Princess Cruises

Norwegian Cruise Line Holdings Ltd. announces fleet expansion for Oceania Cruises in 2016; Sirena to join sister ships Insignia, Regatta and Nautica   Norwegian Cruise Line Holdings Ltd.

Offshore

Pile Testing for Wikinger Wind Farm Launched

In October 2014 the first phase of the pile testing campaign for the Wikinger offshore wind farm project was launched after the site’s geotechnical investigation on the Baltic Sea had been completed.

Damen, Palfinger Upgrade North Sea Jack-Up Rig

With the support of Palfinger systems JUMP technology, Damen Shiprepair Vlissingen has completed an upgrade of a Keppel Fels ‘N’ Class drilling rig, one of the largest in the North Sea,

Vietnam Warship Visits Underscore Regional Tension

Vietnam on Tuesday showed off its two most powerful warships in the first-ever port call to the Philippines but an official said it was not trying to challenge

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Salvage Ship Repair Sonar Winch
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: 0.1493 sec (7 req/sec)