AmericasOffshore

Pacific Drilling to appeal $320m arbitration award

Offshore driller Pacific Drilling have filed an application with the High Court in London to appeal the award that has been issued in arbitration proceedings with Samsung Heavy Industries related to the construction contract of Pacific Zonda drillship.

Last month, an arbitration tribunal in London ordered the company to pay $320m to Samsung Heavy Industries for cancelling a drillship order.

Under the rules governing the arbitration proceedings, Pacific Drilling has no automatic right to appeal.

Pacific Drilling said the grounds on which the High Court in London may grant permission to appeal are limited and there can be no assurance that permission to appeal will be granted.

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Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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