West Aquila has made advance payments totaling approximately US$90 million under the contract, and will claim a refund of the installment paid, plus interest and damages. If this claim is disputed, West Aquila has said it will seek an award via London arbitration.
Read the latest issue of Oilfield Technology in full for free: Issue 2 2021
Oilfield Technology’s second issue of 2021 starts with a report from KPMG that examines the outlook for the Scottish oil and gas sector. The rest of the issue is dedicated to articles covering the offshore supply chain industry, offshore asset integrity, expandable liner technology, advances in drilling, data security, flow control, EOR and methane emissions.
Exclusive contributions come from Tata Steel, EM&I Group, 3X Engineering, Enventure Global Technology, Varel Energy Solutions, Adrilltech, Tendeka and more.
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/18082021/west-aquila-cancels-drillship-resale-contract-with-dsme/