Malaysia's upstream company Carigali Hess Operating Company Sdn Bhd (CHOC) filed arbitration proceedings against Favelle Favco Cranes (M) Sdn Bhd (FFCM) over a crane accident in 2012 at a CHOC platform, parent firm Favelle Favco Berhad said Monday in an announcement on local stock exchange Bursa Malaysia.
"CHOC is seeking an award for a sum of $6,322,400.68 in respect of loss, costs of removal for the damaged crane, various related costs of a temporary crane and a replacement crane as well as interest and legal costs," Favelle Favco said.
The company expects no financial and operational impact regardless of the outcome of the arbitration proceedings as FFCM, who has appointed lawyers to defend the claim, is fully covered by insurance.
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