SDRL - Seadrill Partners Receives Notice of Force Majeure for the West Leo
04 October 2016 - 12:13AM
London, United
Kingdom, October 3, 2016 - Seadrill Partners ("SDLP" or
"the Company") has received a notice of Force Majeure from Tullow
Ghana Limited ("Tullow") for the West Leo drilling contract (the
"Contract") effective 3 October 2016. The Company disputes
Tullow's claim for Force Majeure and will enforce all its rights as
per the contract and governing law.
The West Leo has most recently been
employed on the TEN development project in Ghana. Tullow claims
this field is subject to a drilling moratorium by the government of
Ghana due to the ongoing arbitration proceedings before the
International Tribunal for the Law of the Sea ("ITLOS") to
determine the delineation of a disputed border. Irrespective
of whether that is correct, additional Tullow operated fields
within Ghana, where the West Leo has previously operated under the
Contract, are not subject to such arbitration proceedings.
However, as part of its claim, Tullow has asserted that a
further drilling moratorium applies to these additional fields,
although no satisfactory justification has been
provided.
Consequently, Seadrill Partners
strongly believes that the grounds required for a Force Majeure
claim have not been met.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Seadrill Partners LLC via Globenewswire
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