Addax Ends Sendje Berge FPSO Contract with BW Offshore

BW Offshore’s subsidiary has received a termination notice for the FPSO Sendje Berge operating under a contract with Addax Petroleum Exploration Nigeria (Addax) on the Okwori field, offshore Nigeria.

The termination will have effect from November 06, 2017, the company informed.

In addition, Addax has requested BW Offshore to provide a demobilization plan for the FPSO.

Furthermore, BW Offshore said it will continue the process with the enforcement of the arbitration award for all outstanding claims against Addax. The company received an arbitration award in March relating to its claim against Addax for the payment of all outstanding day rates in respect of the hire of the FPSO Sendje Berge.

The outstanding gross claim at the end of the first quarter 2017 was USD 61.8 million.

BW Offshore has prior to the award received payment of approximately USD 18.7 million from Addax as partial payment of the outstanding hire payable.

 

Share this article

Follow Subsea World News

Events>

<< Jun 2017 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 1 2

Oil & Gas Indonesia 2017

Oil & Gas Indonesia (OGI) is an exhibition focused on Oil and Gas Exploration, Production and Refining and showcases the largest exhibition…

read more >

IADC World Drilling 2017 Conference & Exhibition

This event showcases products like Cutting edge, drilling technology, well control, health, safety, environment, training and environment industry…

read more >

OGA 2017

OGA 2017 is the most beneficial way to meet, discuss and acquire the latest in the Oil & Gas industry! It is also;…

read more >

SPE Offshore Europe 2017

Attending SPE Offshore Europe, recognised by offshore E&P professionals as Europe’s leading E&P exhibition and conference, will ensure…

read more >