Update on new builds in Spain
(Thomson Reuters ONE) - Reference is made to previous announcements regarding the vesselsunder construction at the Factorias Vulcano shipyard in Spain.Petroleum Geo-Services ASA ('PGS' or the 'Company'), and itssubsidiary Arrow Seismic Invest III Ltd. ('Arrow'), have received aformal notification by WesternGeco that the company has canceled thecharter party and all other related agreements for New Build number533 after having informed WesternGeco that there was a right tocancel the shipbuilding contract for New Build number 533.As a consequence, Arrow has formally notified the yard that itreserves any right to at any time cancel the shipbuilding contractfor New Build number 533, and call upon the refund of EUR 39 millionwith the addition of interest (of which approximately EUR 32 millionplus interest is covered by bank guarantees), as set out in theshipbuilding contract.FOR DETAILS, CONTACT:Tore Langballe, SVP Corporate Communications Phone: +47 67 51 43 75 Mobile: +47 90 77 78 41 Bård Stenberg, Investor Relations Manager Phone: +47 67 51 43 16 Mobile: +47 99 24 52 35 US Investor Services Phone: +1 281 509 8712This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 03.08.2009 - 08:45 Uhr
Sprache: Deutsch
News-ID 4251
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