Drilling contractor Fred. Olsen Energy and shipbuilder Hyundai Heavy Industries (HHI) have finally reached an agreement over the rig dispute on the Bollsta Dolphin semi-submersible drilling unit.
Fred. Olsen Energy is saying that market conditions for Norwegian floaters are expected to continue its downward trend into 2017.
Fred. Olsen Energy have confined it has cancelled the construction of its half built Bollsta Dolphin offshore drilling rig, after disagreements with the Hyundai shipyard.
Korean based Hyundai Heavy Industries, has hit offshore drilling contractors, Fred Olsen Energy, with a notice of arbitration, demanding more money.