Report: Daewoo Shipbuilding ends drillship dispute with Angola’s Sonangol

Source: Wikimedia. Author: Wei-Te Wong – under the CC BY-SA 2.0 license 

South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has reportedly resolved its differences with Angola’s Sonangol and made plans to deliver two drillships next year, which will end a longstanding dispute over a delay in the delivery.

Back in 2013 Daewoo secured an order from Sonangol to build two drillships and scheduled the delivery for 2016. However, the Angolan state-owned oil company balked at full payment as its financial situation worsened amid a fall in global oil prices.

Yonhap, a South Korean news agency, reported on Wednesday that the shipbuilder had agreed with Sonangol to deliver the two drillships by March 2019 for approximately $799 million.

According to a Wednesday report by Korea’s Aju Business Daily, DSME will deliver the first rig by the end of January and the second one by the end of March.

Aju Business Daily also said that DSME had won the $1.24 billion order for two drillships in 2013 and received 20 percent or $250 million of the total contract value in advanced payment.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Jan 2020 >>
MTWTFSS
30 31 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 31 1 2

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

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