Bumi Armada Files Claim for $284M Over Woodside's FPSO Contract Termination
Malaysia's Bumi Armada Berhad reported Thursday that its wholly owned unit, Armada Balnaves Pte Ltd., has filed a statement of claim April 20 for around $283.5 million in Western Australia's Supreme Court against Woodside Energy Julimar Pty Ltd. over the termination of the contract for the charter of the Armada Claire Floating Production Storage and Offloading (FPSO) facility.
APBL is seeking $275,813,698.63 in damages "plus any additional damages for loss of bargain caused to ABPL as a consequence of Woodside's repudiation of the Contract" as well as an additional sum of $7.7 million for work done and materials supplied pursuant to the contract, the company said in the press release.
"Bumi Armada is of the view that there are reasonable grounds to expect a favorable outcome in respect of ABPL’s primary claim against Woodside on the repudiation of the Contract. Notwithstanding the foregoing, the award of damages in the event of a favorable outcome is subject to final determination by the court," it added.
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