KrisEnergy Sues Rubicon

OE Staff
Monday, April 27, 2020

KrisEnergy, a Southeast Asia-focused oil company, has started proceedings against FPSO owner Rubicon at the High Court of Justice Business and Property Courts of England and Wales.

The oil company is reacting to a claim recently made by Rubicon demanding a $2.84 payment in relation to a 2014-charter of the Rubicon Vantage FPSO, deployed at KrisEnergy's Wassana field in the Gulf of Thailand as an FSO. 

Rubicon has also threatened with a winding-up petition against KrisEnergy subsidiary KEGOT unless the payment is made.

In a statement on Monday, KrisEnergy - working on debt restructuring - said KEGOT "has now issued proceedings in the High Court of Justice Business and Property Courts of England and Wales against Rubicon."

KEGOT is seeking damages for breaches of the Rubicon Vantage FPSO bareboat charter; damages for misrepresentation; and an indemnity in respect of the Judgement amount previously awarded by the English High Court in respect of claims under the Guarantee.

Also, KrisEnergy has informed that an affiliate of Rubicon, Maritime International Services Pte Ltd has sought to make a demand against the company in relation to a parent company guarantee to secure the performance of KEGOT’s obligations to Maritime under a contract for the operations and maintenance of the “Rubicon Vantage” floating storage and offloading facility dated October 2014.

Maritime is seeking payment under the O&M Guarantee in respect of the sum of approximately US$5.4 million. 

"[KrisEnergy] takes the view, in consultation with legal advisors, that Maritime is not entitled to claim under the O&M Guarantee. The company intends to vigorously resist and refute any and all allegations or claims made against it," KrisEnergy said.

Categories: Energy Activity Production Floating Production Singapore Thailand

Related Stories

Pertamina Joins Petronas in Ultra-Deepwater Asset off Indonesia

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Vietsovpetro Brings BK-24 Oil Platform Online Two Months Early

Brownfield Output Decline Accelerates, says IEA

DOF Secures Moorings Hook-Up Job in Asia Pacific

Inpex Picks FEED Contractors for Abadi LNG Onshore Plant

China Starts Production at Major Oil Field in Bohai Sea

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Yinson Production, “K” LINE Target Europe's CCS with FSIU and LCO2 Solutions

Current News

Sponsored: UAE Breaks Ground on GW-Scale Renewable Energy Hybrid

Pertamina Joins Petronas in Ultra-Deepwater Asset off Indonesia

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

Energy Drilling’s EDrill-2 Rig Starts Ops for PTTEP in Gulf of Thailand

RINA Wins FEED Contract for Petronas’ Flagship CCS Project in Malaysia

ABL Secures Rig Moving Assignment with India's ONGC

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com