Maersk Oil Qatar has initiated arbitration against UK supplier SLP Engineering, the company has disclosed. After a series of commercial, financial and scheduling problems with SLP, a turnkey contract for delivery of offshore accommodation platforms was terminated for default by Maersk Oil Qatar in September 2008.
According to Maersk, at the time a very significant number of man-hours of contractual work remained incomplete, despite concessions on the work schedule, payment terms and, most recently, the provision of financial support to SLP Engineering by Maersk Oil Qatar.
“SLP Engineering has not honoured its contractual obligations despite our efforts to assist where possible and Maersk Oil Qatar is today a significant creditor of SLP Engineering. We have had no option but to initiate arbitration to seek recovery,” said Jakob Thomasen, managing director, Maersk Oil Qatar.
