Scandinavian Oil-Gas Magazine

Shanghai Zhenhua Heavy Industries Co., Ltd (ZPMC) announced through the Shanghai Stock Exchange that it was regrettable that Petrofac unilaterally terminated the contract of Petrofac JSD 6000 deepwater multi-purpose offshore vessel. ZPMC will actively take all legal measures to defend its legitimate rights and interests, and will pursue the liability borne by Petrofac.

ZPMC reported that, “analysts believe that the true reason of more and more contract termination arising are mainly caused by low oil and gas prices, which lead to offshore global market downturn.”