Dril-Quip’s offshore Vietnam contract canceled

Sept. 17, 2019

Offshore staff

HOUSTONDril-Quip Asia-Pacific’s contract for the Ca Rong Do (CRD) project offshore Vietnam has been terminated.

The company was due to supply operator Repsol with drilling top tensioned riser systems.

The contract was initially awarded in February 2018 and was later extended until Dec. 31, 2019, but had been subject to continued delays associated with the CRD development.

Dril-Quip estimated the value of the contract at around $82 million.