‘West Aquila’ contract cancelled

Source: press release, 17 August 2021

Ultra deepwater drillship ‘West Aquila’
Ultra deepwater drillship ‘West Aquila’ (photo: Northern Drilling Ltd)

West Aquila Inc., the 100% owned subsidiary of Northern Drilling Ltd, has notified Daewoo Shipbuilding & Marine Engineering Co. Ltd (DSME) that it has cancelled the resale contract for the 7th generation ultra deepwater drillship West Aquila due to delay of delivery as well as repudiatory breach of contract.

West Aquila Inc. has made advance payments totalling approximately USD 90 million under the contract, and will claim a refund of the instalment paid, plus interest and damages. If this claim is disputed, the Northern Drilling will seek an award via London arbitration in accordance with industry standard procedures and timescales.