Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/tgs-update-on-claim-for-damages-filed-with-arbitra.shtmlTGS update on claim for damages filed with arbitration panel
In preparation for the upcoming arbitration hearings with Wavefield, TGS has elected to narrow its claim for damages from $460 - $830 million
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In preparation for the upcoming arbitration hearings with Wavefield, TGS has elected to narrow its claim for damages from $460 - $830 million as previously presented to the arbitration court to $488 - $510 million.
The claim is duly substantiated by detailed calculations presented to the Arbitration Panel. Consequently, TGS has lowered the upper limit for its claim to $550 million, down from the $700 million originally presented in the writ.
Arbitration hearings are scheduled to commence on November 3 to 13, 2008 and conclude by January 5 to 9, 2009.
