Asia: FPSO Disputes - Watson Farley & · PDF fileAsiaFPSOpractice 01 ASIA FPSO PRACTICE...
Transcript of Asia: FPSO Disputes - Watson Farley & · PDF fileAsiaFPSOpractice 01 ASIA FPSO PRACTICE...
Asia: FPSO Disputes
Finance & investment
Maritime Energy Natural resources
Transport Real estate ICT
Corporate Finance Tax Dispute resolution
Employment Regulatory
London New York Paris Hamburg Munich Frankfurt
Milan Rome
Madrid Athens Singapore Bangkok Hong Kong
wfw.com
Asia FPSO practice
01 ASIA FPSO PRACTICE
Watson, Farley & Williams is a sector specialist law firm with deep expertise in the oil & gas industry. In the past five years, our team in Singapore has handled no fewer than 19 substantial FPSO related disputes.
Our Singapore office, which comprises a joint venture between Watson, Farley & Williams and Singapore law firm Asia Practice, is credited with being a market leader in oil & gas dispute resolution with a niche specialisation in FPSO related disputes. Our prolonged immersion in the oil & gas sector means that our lawyers have an understanding of the industry, from a legal and technical perspective. This provides them with a strategic advantage both in the preparation of project documents and conducting disputes.
With over 40 lawyers in our Singapore office, we are one of the largest law firms in Singapore. The Singapore officeʹs primary oil & gas clients consist of: FPSO builders, owners, charterers and operators Oil field developers Process module contractors Banks and financiers.
>>>>
02 FPSO DISPUTES EXPERIENCE
Watson, Farley & Williams Asia: FPSO Disputes
FPSO disputes experience
Delay and Damages
Acting for the supplier of topside process modules installed on an FPSO. The disputes relate primarily to delay, liquidated damages claims, warranty claims and contested back‑charges. We were instructed following a recommendation from another client.
Delayed Delivery
Acting for the owner in a dispute under a charterparty arising from delays in delivering the FPSO. The main disputes related to delay, force majeure and the failure to obtain all required consents for the FPSO to operate.
Supply of Process Modules
Representing an oil field developer in a dispute regarding the supply of process modules. The yard was claiming over US$5m in respect of 54 VORs, our client counterclaimed US$1.5m for delay and disruption. We achieved a forced settlement.
Defective FPSO
Acting for an oil field operator in arbitration regarding a defective FPSO. The issues in dispute include the cause of repeated breakdowns, malfunctions of the mooring system, an inadequate station keeping system and substantial downtime.
Mechanical Completion
Advising in a dispute centred around an FPSOʹs Mechanical Completion date and therefore when the Services Day Rate started to accrue. Also advising the field operator on the FPSOʹs failure to comply with contractual performance specifications.
Refusal to Redeliver
Acting in connection with a threatened refusal to redeliver an FPSO pending payment of VORs. Securing the FPSOʹs release and advising on builderʹs liens, rights of arrest, liquidated damages and delay and disruption and misrepresentation claims.
Milestone Invoices
Representing a contractor in a dispute under an EPC contract relating to the supply of top‑side modules. The disputes related to the non‑payment of final milestone invoices and counter‑claims for liquidated damages for delay.
Defective FPSO
Representing an oil field developer in a US$1bn dispute relating to an allegedly poorly designed turret mooring system, leaking swivels and inadequate process modules leasing to shortfalls in production and off‑spec. hydrocarbons.
FPSO Performance
Representing the owner of an FPSO in a dispute with its bareboat charterers where inadequate performance of the FPSO was alleged and hire was withheld. We previously acted against the FPSO owner, who instructed us in relation to this matter.
FPSO Condition
Representing the owner of an FPSO in a dispute with the bareboat charterers with regard to the condition of the FPSO on re‑delivery and alleged non‑compliance with maintenance obligations.
Construction
Acting for the purchaser of an FPSO in connection with disputes relating to the delayed construction of the FPSO.
Wrongful Sale of an FPSO
Acting for the part‑owner of an FPSO against its joint venture partner following the wrongful sale of the asset without the agreement of the part‑owner.
Supply and Installation
Acting for a subcontractor against an owner/operator in a dispute relating to the supply and installation of topside processing modules. Before the arbitration began we negotiated the withdrawal of the ownerʹs US$4m claims and obtained US$10m for our client.
Late Delivery
Acting for the contractors in relation to disputes arising out of the alleged late delivery of topside process modules.
03 FPSO DISPUTES EXPERIENCE
Warranty Claims
Acting for the buyer of an FPSO in disputes arising from contested warranty claims.
Topside Process Modules
Acting for the contractor regarding the supply of topside process modules ‑ specific disputes include non‑payment of invoices, contested VORs, the yardʹs refused delivery and commercial close‑out. We successfully secured release of the modules.
Delayed Construction
Acting for the purchaser of an FPSO in connection with disputes with the yard relating to the alleged delayed construction of the FPSO and the causes and consequences of this delay.
Termination of Build
Acting for the buyer of an FPSO in connection with disputes with a yard relating to the construction of the FPSO. The main issues related to the causes of delays and whether the buyer was entitled to terminate.
Refit Works
Acting for the part‑owner of an FPSO in a dispute with its joint venture partner relating to the costs of refit works which were not pre‑agreed prior to works being undertaken.
Withheld Payment
Acting for the contractor in connection with a disputed final payment, which was withheld following a fire.
Reputation
04 REPUTATION
“...understands the technical engineering and commercial aspects of the oil & gas industry as well as the legal ones.”Chambers Asia 2012
Full Service Law Firm of the Year (Singapore) ACQ Global Law Awards 2012
Law Firm of the Year ‑Litigation Advisory and Cross‑Border categories Lawyersʹ World Global Awards 2012
Clients say: ”They recognise itʹs about the personal relationships.”Chambers UK 2014
“Clients appreciate the firmʹs sector‑specific knowledge in shipping, aviation, offshore oil and gas and energy.” Chambers Asia 2013
“This firm commands a sizable portion of the ship financing market, and is a popular choice for both local and international clients.”Chambers Europe 2013
Oil & Gas Law Firm of the Year (Singapore) Lawyer Monthly Legal Awards 2012
“...oil & gas expertise...”Chambers Asia 2013
”Market‑leading shipping finance practice that is truly global.”Chambers UK 2014
“…excellent in all matters maritime...”Legal 500 Asia Pacific 2013
“The partners take a hands‑on approach and are capable of handling complex, cross‑border deals.”Chambers Asia 2013
The firm delivers ”strong commercial and practical advice.”Legal 500 Asia Pacific 2014
“…maintains extremely high standards in the shipping arena…”Legal 500 Asia Pacific 2013
“This firm is highly regarded around the world for the strength of its shipping practice.”Chambers Asia 2013
“...professional, well‑organised and time‑efficient approach...”Chambers Global 2013
“...technical prowess... is lauded by peers as a tremendously commercially aware and astute operator.”Chambers Asia 2013
Watson, Farley & Williams Asia: FPSO Disputes
05 OUR OFFICES
Our offices
UK
London
15 Appold Street London EC2A 2HB
Tel: +44 20 7814 8000 Fax: +44 20 7814 8141
USA
New York
1133 Avenue of the Americas New York NY 10036
Tel: +1 212 922 2200 Fax: +1 212 922 1512
Germany
Hamburg
Jungfernstieg 51 20354 Hamburg
Tel: +49 40 800 084 0 Fax: +49 40 800 084 410
Munich
Gewürzmühlstraße 11 80538 Munich
Tel: +49 89 237086 0 Fax: +49 89 237086 222
Frankfurt
Ulmenstraße 37‑39 60325 Frankfurt am Main
Tel: +49 69 297 291 0 Fax: +49 69 770 75800
France
Paris
26, avenue des Champs‑Elysées 75008 Paris
Tel: +33 156 88 21 21 Fax: +33 156 88 21 20
Italy
Rome
Piazza Navona, 49 2nd Floor int 2/3 00186 Rome
Tel: +39 06 68 40 581 Fax: +39 06 68 89 2717
Milan
Piazza del Carmine 4 20121 Milan
Tel: +39 02 721 70 71 Fax: +39 02 721 70 720
06 OUR OFFICES
Spain
Madrid
Maria de Molina, 4 28006 Madrid
Tel: +34 91 515 6300 Fax: +34 91 563 1630
Greece
Athens
6th Floor, Building B, 348 Syngrou Avenue, Kallithea 176‐74, Athens
Tel: +30 21 0455 7300 Fax: +30 21 0459 4004
Singapore
Singapore
6 Battery Road #28‑00 Singapore 049909
Tel: +65 6532 5335 Fax: +65 6532 5454
Thailand
Bangkok
Unit 902, 9th Floor, GPF Witthayu Tower B 93/1, Wireless Road Patumwan, Bangkok 10330
Tel: +66 2 665 7800 Fax: +66 2 665 7888
China
Hong Kong
Units 1703‑1707 One Pacific Place 88 Queensway Hong Kong
Tel: +852 2168 6700 Fax: +852 2918 9777
100‑000‑2390 SIN 10/02/2014
All references to ‘Watson, Farley & Williams’ and ‘the firm’ in this publication mean Watson, Farley & Williams LLP and/or its affiliated undertakings. Any reference to a ‘partner’ means a member of Watson, Farley & Williams LLP, or a member or partner in an affiliated undertaking, or an employee or consultant with equivalent standing and qualification. The transactions and matters referred to in this publication represent the experience of our lawyers. This publication is produced by Watson, Farley & Williams. It provides a summary of the legal issues, but is not intended to give specific legal advice. The situation described may not apply to your circumstances. If you require advice or have question or comments on its subject, please speak to your usual contact at Watson, Farley & Williams. This publication constitutes attorney advertising.
© Watson, Farley & Williams 2014
Watson, Farley & Williams Asia: FPSO Disputes
wfw.com