Ocean Rig initiates arbitration against Friede Goldman

Ocean Rig ASA, Oslo, Friday said it began arbitration proceedings in London against Friede Goldman Halter Inc. regarding the halted construction of Ocean Rig�s semisubmersible drilling rigs.


By the OGJ Online Staff


HOUSTON, Mar. 2
�Ocean Rig ASA, Oslo, Friday said it began proceedings in London against Friede Goldman Halter Inc. and its affiliates regarding the halted construction of Ocean Rig�s semisubmersible drilling rigs.

The two fifth-generation semisubmersibles were being outfitted at Friede Goldman�s Pascagoula, Miss., shipyard. The Bingo 9000-1 was slated to leave the Pascagoula shipyard for sea trials in early March and the Bingo 9000-2 in June.

But earlier this week, Friede Goldman said it stopped work on Ocean Rig�s projects because of cost overruns and delays. Friede Goldman said it could not proceed on the projects without a new agreement with Ocean Rig.

On Friday, Friede Goldman said it laid off more than 1,000 of its 6,000 workers and shut down one of its Pascagoula shipyards.

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