Petrofac Terminates Shipbuilding Contract with ZPMC

By Curious

London-based oilfield services provider Petrofac has terminated its contract with China’s Shanghai Zhenhua Heavy Industries Co. (ZPMC) for the construction of a deepwater multi-purpose offshore vessel.

Petrofac Terminates Shipbuilding Contract with ZPMC

Image: petrofac

Petrofac says that the contract for the construction of Petrofac JSD 6000 was cancelled ‘‘due to issues with ZPMC’s performance.”

Ayman Asfari, Petrofac’s Chief Executive, said: “It is regrettable that it has become necessary for us to take this decision, and the Board is now reviewing its options.”

Petrofac ordered the vessel back in 2014, and the vessel was expected to be delivered in 2017.

Source: petrofac.com