EuropeGreater ChinaOffshore
COSL wins lawsuit against Statoil
China Oilfield Service (COSL) has announced that Oslo City Court has ruled in the company’s favour in a lawsuit against Norwegian energy firm Statoil.
COSL filed the lawsuit against Statoil in December 2016 due to a dispute regarding the termination of the drilling contract COSL Innovator after the rig was hit by a storm on the Troll field.
The court has ruled that Statoil’s termination of the contract was unlawful and ordered Statoil to pay cancellation fee under the contract.