ShippingWatch

Diamond Offshore sues Statoil for USD 146 million

US-based rig company Diamond Offshore is suing Statoil for USD 146 million after a canceled contract.

Photo: Harald Peterssen, Statoil

A canceled contract may end up costing Statoil a lot more than it bargained for. The American rig company Diamond Offshore has sued the Norwegian oil company and demanded USD 146 million in compensation, according to Norwegian media Teknisk Ukebrev.

The dispute arose after Statoil canceled the rental contract on the rig Ocean Vanguard, which Statoil had originally leased until the end of February 2015 for a daily rate of USD 454,000. However, Statoil canceled the contract on May 30 2014, leaving Ocean Vanguard, originally from 1982, idled the UK.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Nina Østergaard Borris takes over as USTC's CEO

Danish billionaire Torben Østergaard-Nielsen passes the position as CEO of USTC to his daughter Nina Østergaard Borris. ”A joint decision by the ownership,” Østergaard-Nielsen tells newspaper.

Further reading

Related articles

Latest news

See all jobs