Offshore staff
SANDNES, Norway — Dolphin Drilling has issued a termination notice to General Hydrocarbons Ltd. (GHL) in India concerning a contract for the Blackford Dolphin semisub.
Last month the two parties had reached agreements on past due payments and remaining work under the drilling contract, Dolphin said, but added that GHL had not complied with the payment terms.
Dolphin referenced its announcement on April 29 in connection to expected credit loss against sums due from one client of $42.6 million.
It plans to prepare the Blackford Dolphin for transit to India in the near term and intends to pursue recovery of sums it says are outstanding.
05.01.2024
