Award Against Eni Voided in Transocean Suit

Friday, March 29, 2019

A U.S. appeals court on Thursday supported a lower court's finding that Italian oil producer Eni SpA breached a contract with offshore drilling contractor Transocean Ltd, but voided a $160 million damages award.

A three-judge panel found the lower court miscalculated damages because it used a standby rate to determine what Eni would have paid Transocean to complete the contract. It sent the damages decision back to the District Court to recalculate damages based on what work the rig could have performed.

Transocean declined to comment on the ruling. Eni could not be reached for comment outside of normal business hours.


(Reporting by Gary McWilliams Editing by Leslie Adler)

Categories: Legal Drilling North America

Related Stories

Equinor Sets Up Union Partnership for New York’s First Offshore Wind Hub

Big Turnout Expected in New England Offshore Wind Power Auction

TotalEnergies Gets Share of Bayou Bend CCS Project in United States

Current News

First Gas Export to Denmark from Tyra II Expected Today

Vattenfall to Take Part in IJmuiden Ver Offshore Wind Tender in Netherlands

Beach Energy to Let Go 30% of Workforce Amid Strategic Review

Ocean Infinity Inks Deal with Shell for Subsea Data Capture Services

Subscribe for OE Digital E‑News