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Bumi Armada faces $31m claim

Bumi Armada faces $31m claim
Bumi Armada said in a stock market announcement that one of its units is facing a claim of EUR28.5m ($31.1m) from SEA Srl over a service contract for post trenching and backfilling services.

Bumi Armada Caspian LLC has received the notice of arbitration for the 28 September 2012 contract for providing the services for the Filanosky field development project which was worth EUR16.2m.

“In the notice of arbitration, SEA Srl claimed approximately 28.5m euros against Bumi Armada Caspian under the service contract,” it said.

Bumi Armada said its unit has obtained the views of its legal counsel who considers that it has good prospects of success in defending the claim. No date has been set as yet for the arbitration hearing

TAGS: Offshore