Alaska Drill Rig Refit Contract Terminated

Press Release
Sunday, December 23, 2012

Buccaneer Energy contextualizes termination of its contract with Archer Drilling as project manager of work on one of its jack-up rigs.

The contract was for Archer Drilling to act as project manager of modifications and repairs to the Endeavour-Spirit of Independence jack-up rig owned by Kenai Offshore Ventures, LLC, which is a joint venture between Buccaneer, Singapore based Ezion Holdings Limited and the Alaska Industrial Development and Export Authority (“AIDEA”). Buccaneer is the designated Manager of Kenai Offshore.

Archer Drilling was engaged by Kenai Offshore in October 2011 under a Master Services Agreement (“MSA”) to provide project management services for the modifications and repairs required to be undertaken to the Endeavour to allow it to operate in the Cook Inlet, Alaska.

Archer Drilling was chosen through a competitive tender process undertaken in 2011, where part of Archer Drilling’s claim was that they “set the standard in providing drilling maintenance and rig management services”. Additionally Archer Drilling personnel had worked on the Endeavour (then called the Adriatic XI) while undergoing shipyard work in 2008 through its subsidiary Rig Inspection Services (“RIS”).

Prior to the finalization of the acquisition of the Endeavour in November 2011 Archer Drilling and RIS inspected the Endeavour while cold stacked and were involved in the initial engineering surveys of the Endeavour. Additionally Archer Drilling and RIS compiled the detailed engineering scopes of work required to allow various contractors to submit quotes for the modification and repair work to be undertaken in Singapore. All of these early services provided by Archer Drilling were consistent with the terms of the MSA and for which Archer Drilling and RIS received full payment.

Kenai Offshore has been continually forced to undertake unanticipated work and to contribute unanticipated expenses. Archer Drilling’s failure to live up to its representations and contractual responsibilities under the MSA seriously undermined Buccaneer’s confidence in their ability to complete their work under the MSA and subsequently operate the Endeavour within the Cook Inlet while undertaking drilling operations, requiring the termination of Archer Drilling services and the identification of a replacement.
 

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

Contracts

Sulzer Shareholder has 5 pct Dresser-Rand Stake

Russian billionaire Viktor Vekselberg's Swiss investment firm Renova Group said on Friday it had a 4.99 percent stake in U.S.-based Dresser-Rand, which might become the object of a takeover battle.

Source: Siemens Offering $6.1 bln for Dresser Rand

Germany's Siemens plans to offer more than $6.1 billion, or $80 per share, for U.S. compressor and turbine maker Dresser-Rand, Germany's Manager Magazin said on Friday.

Transas Simulators Boosts Western Shipping Training Center

Transas Marine Pacific has successfully completed the upgrade of a simulator complex for Western Shipping Pte. Ltd. training center. The simulator class was

Ship Repair & Conversion

Jet Edge Celebrates 30 Years in Waterjet Industry

Waterjet systems manufacturer Jet Edge, Inc. celebrated its 30th anniversary Sept. 3 with a special open house celebration. Jet Edge’s anniversary event included

3D Scanning Speeds Up Drag Boat Racing

NVision, Inc., a company in 3D laser scanning and reverse engineering for over 24 years, said it was able to help a motorsports boat designer optimize the design

Cook Joins Horizon Shipbuilding as Operations VP

Horizon Shipbuilding, Inc. announced that Mickey Cook has joined the corporation as the Vice President of Operations for the Bayou La Batre shipyard. Cook, one of the founders of C & G Boatworks,

Offshore

Russia: Exxon Still Drilling in its Arctic

ExxonMobil is still drilling in the Russian Arctic, a Russian minister said on Friday, in move that if confirmed will anger Washington after the U.S. administration

MAN-Powered Cargo Vessel Meets Tier III

Classification society awards SCR system emissions certificate. MAN Diesel & Turbo has been awarded a Tier III - compatibility certificate by the DNV- GL classification

FPSO Petrojarl Knarr Delivered to Norway

Three tugs of Fairmount Marine have towed the brand new FPSO Petrojarl Knarr from South Korea to Norway in just 61 days. Petrojarl Knarr, one of world’s largest

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics 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: 0.1544 sec (6 req/sec)