Fossil energy – John Frederiksen
Northern Drilling, dominated by John Frederiksen, has since 2018 placed orders for two ultra-deepwater drilling ships from South Korean shipyard Daewoo Shipbuilding and Marine Engineering.
After a series of postponements, the company announced last Saturday night that it would not accept one of them, the West Libra.
Northern Drilling cancelled the delivery of the second drillship West Aquila already in August.
The rig company is demanding reimbursement of $ 90 million, or around 760 million kroner, paid upfront to the shipyard – in addition to interest and other possible costs, it appears. A similar claim was made in connection with the cancellation of West Aquila.
In 2019, Northern Drilling separated its two semi-submersible rough water rigs into a new company called Northern Ocean. The former therefore has no plants other than those commissioned and therefore no income. A possible delivery of the drilling ships and subsequent further payment in the market for heavy drilling rigs would be problematic to handle.
Northern Drilling reported on Saturday that the shipyard initiated an arbitration process after the first cancellation.