Thule expects court ruling on full access soon
Posted: 16 October 2007
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Following a limited access granted by the Court of Urgent Matters in the United Arab Emirates last month, Thule Drilling was allowed to inspect the QGM yard and its rigs.
Since then, representatives from Thule Drilling along with a court appointed expert and representatives from QGM have conducted inspections on the rigs and the equipment.
The inspections were completed last week.
The court appointed expert will submit his report to the court towards the end of next week. Thule expects a positive ruling following this report, which will allow Thule to enter the rigs with a maintenance team. Thule is continuously working with the courts in order to gain full access, and to be able to resume maintenance and construction work on its rigs. Presently, Thule is providing all necessary documentation to prove its ownership of the rigs and equipment, and is confident that once the courts have reviewed the documentation provided, they will rule in Thule 's favor.
The drilling contractor is being penalised by Saudi Aramco for late rig-delivery. Thule is re-constructing a damaged jack-up drilling rig into Thule Power, a modern rig for drilling in 250-foot water depths and down to total depths of 30,000 ft . |
