Songa Offshore SE : Cat D update
(Thomson Reuters ONE) -
On March 18, 2016, Songa Offshore submitted its defence in the arbitrations
initiated by DSME in 2015, regarding the first two Cat Ds rigs, Songa Equinox
and Songa Endurance (the "Rigs"). As previously informed, DSME's claim relates
to alleged cost overruns and additional work in relation to the Rigs due to what
DSME alleges were inherent errors and omissions in the design documents (as
often referred to as the FEED package). Along with its defence, on the same date
Songa Offshore submitted counterclaims in respect of the Rigs for the aggregate
amount of USD 65.8 million, by means of which Songa Offshore intends to recover
damages caused by the default of DSME.
As also previously reported, Songa Offshore will vigorously defend the claims
asserted by DSME. Songa Offshore considers that DSME is solely responsible for
the delays to the Rigs and any attempt by DSME to recover cost overruns has no
merit due to the "turn-key" nature of the construction contracts.
Further details will be provided as and when appropriate.
21 March 2016
Limassol, Cyprus
For further information, please contact:
Bjørnar Iversen, CEO (+357 996 49 152)
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Songa Offshore SE via GlobeNewswire
[HUG#1996163]
Unternehmensinformation / Kurzprofil:
Datum: 21.03.2016 - 08:02 Uhr
Sprache: Deutsch
News-ID 458751
Anzahl Zeichen: 1990
contact information:
Town:
Oslo
Kategorie:
Business News
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