ZPMC to take legal action against Petrofac over $1bn contract termination


zpmc TO take legal action against petrofac over $1bn contract

China’s Shanghai Zhenhua Heavy Industries (ZPMC) has announced that it will take legal measures against Petrofac following the $1bn cancellation of a construction contract to build the JSD 6000 deepwater multi-purpose offshore vessel.

ZPMC said it was regrettable that Petrofec has terminated the contract and it will actively take legal actions to protect its legitimate rights and interests.

Petrofac awarded the contract to ZPMC to build the vessel in January 2014, with a scheduled delivery in early 2017.

Petrofac said the cancellation was due to issues with ZPMC’s performance.

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