India’s Oil & Natural Gas Corporation (ONGC) has received a notice of arbitration from two contractors related to the B-193 process platform project, offshore India.
Swiber Holdings, an offshore construction services provider to the oil and gas industry, informed on Wednesday that a consortium between its subsidiary, Swiber Offshore Construction, and Sime Darby Engineering (SDE) started arbitration proceedings in India against ‘an Asian multinational oil and gas company’ on June 1, 2016.
While Swiber did not reveal the name of the oil and gas company in question, its partner SDE said the notice of arbitration was issued to India’s ONGC in relation to the process platform for B-193 project.
SDE and Swiber had entered into the the consortium agreement in order to perform the contract for the process platform project awarded by ONGC in May 2010 for a total contract price of $618.4 million.
The contract for the process platform project was executed by ONGC and the consortium on July 3, 2010.
However, SDE explained, disputes and differences relating to the project have since arisen between the consortium and ONGC. According to the contract, the disputes between the parties will be referred to and determined by arbitration in India.
Swiber stated that the conduct of the arbitration proceedings will be led by SDE.
Offshore Energy Today Staff