22 minutes
PETALING JAYA: The Supreme Court of Western Australia has ruled against Bumi Armada Bhd in its dispute with Woodside Energy Julimar Pty Ltd in relation to a contract for the provision of floating production storage and offloading (FPSO) services dated Sept 30, 2011.
The FPSO vessel in question was operating at the Balnaves Field, offshore north-western Australia since August 2014.
In a Bursa filing, Bumi Armada said the judgement was delivered by the Supreme Court on Jan 24.
“The Supreme Court ruled in favour of Woodside Energy on Armada Balnaves Pte Ltd’s main claim of repudiation of the contract.
“Armada Balnaves was found to be entitled to a payment of US$2 million for unpaid milestone claims and AU$341,165.29 for unpaid invoices. Armada Balnaves was found to be required to pay Woodside Energy AU$1.57 million for reimbursement of miscellaneous charges,” it said.
The group added that it is currently reviewing the judgment and considering possible grounds of appeal, which if any, is to be lodged by Feb 14, 2020.
To recap, Woodside Energy purportedly terminated its contract with Armada Balnaves by issuing a notice of termination, which was considered to amount to a repudiation of the contract, which entitled Armada Balnaves to damages.
On March 14, 2016 Armada Balnaves filed a writ of summons with the Supreme Court of Western Australia for a declaration that Woodside Energy was in repudiatory breach of the contract and AU$283.5 million in damages for Woodside Energy’s breach of contract.
It is worth noting Bumi Armada had originally signed the FPSO deal with Apache Energy Ltd in 2011. In 2015, Apache then sold its Australian operations to Woodside Energy which eventually terminated the contract.
