Agreement reached on Bideford Dolphin News
// July 13, 2001
Norsk Hydro has reached an agreement with Dolphin AS that ends the dispute between the two parties with regard to compensation for cost overruns in connection with the re-build of the drilling rig Bideford Dolphin.
Under the terms of the agreement, Dolphin AS will receive a 20 per cent increased in the day-work rate for the remaining period of the contract, which will be reduced by one year.
Dolphin will also be paid an additional NOK225 million for the contract period covered so far.
In return, Norsk Hydro will waive the counterclaims made in connection with the dispute.
More articles from this category
More newsContracts, Tenders and Rates // September 23, 2016Company News // September 23, 2016Vessel & ROV News // September 23, 2016Company News // September 23, 2016Equipment & Technology // September 23, 2016Contracts, Tenders and Rates // September 22, 2016Contracts, Tenders and Rates // September 22, 2016News // September 22, 2016Projects and Operations // September 22, 2016Yard News // September 22, 2016Company News // September 21, 2016News // September 21, 2016Vessel & ROV News // September 21, 2016Organisations and Associations // September 21, 2016Contracts, Tenders and Rates // September 21, 2016