Bumi Armada Loses Woodside Petroleum (ASX:WPL) FPSO Case - Sequoia Direct Pty Ltd

28JanJanuary 28, 2020

Bumi Armada Loses Woodside Petroleum (ASX:WPL) FPSO Case

In a judgment issued on Friday afternoon, the Supreme Court of Western Australia found in favour of Woodside Petroleum (ASX:WPL) and dismissed Bumi’s claim.

Woodside and Bumi Armada subsidiary Armada Balnaves have been engaged in proceedings with the court in respect to the termination in March 2016 by Woodside of the services agreement for the Armada Claire FPSO.

Armada Balnaves commenced legal proceedings against Woodside Energy Julimar after the offshore oilfield operator cancelled its contract for the Armada Claire FPSO.

The trial was held in February-March 2019.

Shares in Woodside Petroleum (ASX:WPL) closed 0.4 per cent higher to $35.39 on Friday.

Copyright 2020 – Finance News Network

Source: Finance News Network

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