Petroleum Africa
Find us on: 
Thursday, January 15, 2015
Northern Offshore, Ltd. issued a Notice of Contract Termination to Oceanic Consultants Nigeria Ltd. (Oceanic), an affiliate of CAMAC Energy Inc. (CAMAC) for the Energy Searcher (mid-water drillship) drilling contract. CAMAC guaranteed Oceanic’s obligations under the drilling contract.
Northern said it believes Oceanic breached various terms of the drilling contract and will be filing a claim for in excess of $50 million associated with this matter pursuant to the arbitration provisions of the contract.
The company hopes to have the rig demobilized out of Nigeria by late-January.
Northern’s announcement follows the press release issued on January 12 by CAMAC stating that it was terminating the contract with Northern. CAMAC also claims a “repudiatory breach of contract,” as well as other material breaches of the drilling contract by Northern.
" alt="First LNG Realized at the Greater Tortue Ahmeyim Project">
" alt="United Energy Acquires Western Desert Producer APEX">
" alt="Baker Hughes Announces Major Gas Technology Orders for Venture Global LNG">
" alt="ReconAfrica: Naingopo Results Demonstrate a Working Petroleum System">
" alt="Tullow Highlights 2025 Operational Plans in Ghana">
" alt="TotalEnergies to Supply 1.5 TWh to STMicroelectronics in France Over 15 years">
" alt="Rockhopper Reaches Final Settlement with United on Egypt’s Abu Sennan Concession">
" alt="Oil & Gas Crucial for African Growth: AEC Calls for Industry Support to Defend African Market">
