Lamprell delivers Ensco jack-up late. Seeks compensation from Cameron

Offshore rig builder Lamprell has delivered the “Ensco 140” LeTourneau-­designed, Super 116E (Enhanced) Class jack-up drilling rig to Ensco.

The UAE-based yard on July 26, 2016 said the rig’s delivery would be delayed, resulting in potential exposure to remedial costs and liquidated damages. On, Sunday, August 28, Lamprell informed that it had signed an agreement with the client to settle all claims arising from the late delivery of the rig.

The settlement agreement includes a deduction of $25 million from the final milestone payment in respect of late delivery. As part of the settlement, Lamprell will also provide services for the “Ensco 140 and 141” rigs, including temporary storage and grant an extended warranty for the jacking equipment supplied by the original equipment manufacturer, Cameron LeTourneau.

As a result of the settlement agreement, Lamprell’s expected 2016 revenue will be reduced by $25 million and the company anticipates a reduction of around $35 million on its expected 2016 profit. The rig builder said the late delivery of the “Ensco 140” rig was caused by failures in the jacking equipment that Cameron supplied.

“Lamprell has successfully implemented a solution for this issue on the “Ensco 140″ rig and the Group expects to deliver the other six projects as planned. Lamprell’s Board is fully committed to recovering the remedial costs arising from the technical defects in the jacking equipment from Cameron as well as seeking compensation from Cameron,” Lamprell said.

Share this article

Follow Offshore Energy Today

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

GeoConvention 2019

GeoConvention offers some of the best local and international insights to efficient energy exploration…

read more >

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Erbil International Oil & Gas Exhibition 2019

The event will be held at the Erbil International Fair Ground which is one of the largest energy related events in Iraq…

read more >

THE 24 th IRAN INTERNATIONAL OIL , GAS , REFINING & PETROCHEMICAL EXHIBITION

The second largest OPEC producer, Iran sits atop 11 percent of oil and 18 percent of gas…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply