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>

<< Oct 2017 >>
MTWTFSS
25 26 27 28 29 30 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 31 1 2 3 4 5

BLACK SEA OIL AND GAS

Black Sea region continues to impose as a key area for the future of energy in Europe in reaching the diversification of supply and the energy…

read more >

SUBSEA POWER CABLES

2-day seminar covering best practice and emerging technologies for cost-efficient subsea cable projects from conception to installation…

read more >

24th Annual Africa Oil Week 2017

The Conference portraying five days of senior-level executive insights, with rich-content on corporate strategies and portfolio, exposure…

read more >

OTC Brasil 2017

OTC Brasil is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum, Gas and Biofuels Institute (IBP)…

read more >