Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/saipem-gets-notification-of-termination-for-conven.shtmlSaipem gets notification of termination for convenience of the South Stream BV contract
Saipem informs that late in the evening of July 8th it received notification of the termination for convenience of the South Stream BV contract.
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Saipem informs that late in the evening of July 8th it received notification of the termination for convenience of the South Stream BV contract.
The termination for convenience is a standard contractual clause which provides for the termination of the agreement in the absence of a contractual breach, with compensation determined in accordance with the terms and conditions of the contract.
Saipem confirms that the pipelaying vessel Castoro 6 was in the process of mooring in Russian waters to start pipelaying activities.
