Asia: FPSO Disputes Finance & investment Maritime Energy Natural resources Transport Real estate ICT Corporate Finance Tax Dispute resolution Employment Regulatory London New York Paris Hamburg Munich Frankfurt Milan Rome Madrid Athens Singapore Bangkok Hong Kong wfw.com
01 ASIA FPSO PRACTICE Asia FPSO practice Watson, Farley & Williams is a sector specialist law firm with deep expertise in the oil & gas industry. In the past five years, our team in Singapore has handled no fewer than 19 substantial FPSO related disputes. Our Singapore office, which comprises a joint venture between Watson, Farley & Williams and Singapore law firm Asia Practice, is credited with being a market leader in oil & gas dispute resolution with a niche specialisation in FPSO related disputes. Our prolonged immersion in the oil & gas sector means that our lawyers have an understanding of the industry, from a legal and technical perspective. This provides them with a strategic advantage both in the preparation of project documents and conducting disputes. With over 40 lawyers in our Singapore office, we are one of the largest law firms in Singapore. The Singapore officeʹs primary oil & gas clients consist of: > > > > FPSO builders, owners, charterers and operators Oil field developers Process module contractors Banks and financiers.
FPSO DISPUTES EXPERIENCE 02 FPSO disputes experience FPSO Performance FPSO Condition Delay and Damages Representing the owner of an FPSO in a dispute with its bareboat charterers where inadequate performance of the FPSO was alleged and hire was withheld. We previously acted against the FPSO owner, who instructed us in relation to this matter. Representing the owner of an FPSO in a dispute with the bareboat charterers with regard to the condition of the FPSO on re delivery and alleged non compliance with maintenance obligations. Acting for the supplier of topside process modules installed on an FPSO. The disputes relate primarily to delay, liquidated damages claims, warranty claims and contested back charges. We were instructed following a recommendation from another client. Defective FPSO Milestone Invoices Delayed Delivery Supply of Process Modules Representing an oil field developer in a US$1bn dispute relating to an allegedly poorly designed turret mooring system, leaking swivels and inadequate process modules leasing to shortfalls in production and off spec. hydrocarbons. Representing a contractor in a dispute under an EPC contract relating to the supply of top side modules. The disputes related to the non payment of final milestone invoices and counter claims for liquidated damages for delay. Acting for the owner in a dispute under a charterparty arising from delays in delivering the FPSO. The main disputes related to delay, force majeure and the failure to obtain all required consents for the FPSO to operate. Representing an oil field developer in a dispute regarding the supply of process modules. The yard was claiming over US$5m in respect of 54 VORs, our client counterclaimed US$1.5m for delay and disruption. We achieved a forced settlement. Defective FPSO Mechanical Completion Refusal to Redeliver Acting for an oil field operator in arbitration regarding a defective FPSO. The issues in dispute include the cause of repeated breakdowns, malfunctions of the mooring system, an inadequate station keeping system and substantial downtime. Advising in a dispute centred around an FPSOʹs Mechanical Completion date and therefore when the Services Day Rate started to accrue. Also advising the field operator on the FPSOʹs failure to comply with contractual performance specifications. Acting in connection with a threatened refusal to redeliver an FPSO pending payment of VORs. Securing the FPSOʹs release and advising on builderʹs liens, rights of arrest, liquidated damages and delay and disruption and misrepresentation claims. Watson, Farley & Williams Asia: FPSO Disputes
03 FPSO DISPUTES EXPERIENCE Refit Works Withheld Payment Construction Acting for the part owner of an FPSO in a dispute with its joint venture partner relating to the costs of refit works which were not pre agreed prior to works being undertaken. Acting for the contractor in connection with a disputed final payment, which was withheld following a fire. Acting for the purchaser of an FPSO in connection with disputes relating to the delayed construction of the FPSO. Termination of Build Delayed Construction Wrongful Sale of an FPSO Supply and Installation Acting for the buyer of an FPSO in connection with disputes with a yard relating to the construction of the FPSO. The main issues related to the causes of delays and whether the buyer was entitled to terminate. Acting for the purchaser of an FPSO in connection with disputes with the yard relating to the alleged delayed construction of the FPSO and the causes and consequences of this delay. Acting for the part owner of an FPSO against its joint venture partner following the wrongful sale of the asset without the agreement of the partowner. Acting for a subcontractor against an owner/operator in a dispute relating to the supply and installation of topside processing modules. Before the arbitration began we negotiated the withdrawal of the ownerʹs US$4m claims and obtained US$10m for our client. Topside Process Modules Late Delivery Warranty Claims Acting for the contractor regarding the supply of topside process modules specific disputes include non payment of invoices, contested VORs, the yardʹs refused delivery and commercial close out. We successfully secured release of the modules. Acting for the contractors in relation to disputes arising out of the alleged late delivery of topside process modules. Acting for the buyer of an FPSO in disputes arising from contested warranty claims.
REPUTATION 04 Reputation Clients appreciate the firmʹs sector specific knowledge in shipping, aviation, offshore oil and gas and energy....technical prowess... is lauded by peers as a tremendously commercially aware and astute operator. maintains extremely high standards in the shipping arena Legal 500 Asia Pacific 2013...professional, well organised and time efficient approach... Chambers Global 2013 This firm commands a sizable portion of the ship financing market, and is a popular choice for both local and international clients. Chambers Europe 2013 excellent in all matters maritime... Legal 500 Asia Pacific 2013...understands the technical engineering and commercial aspects of the oil & gas industry as well as the legal ones. Chambers Asia 2012 Law Firm of the Year Litigation Advisory and Cross Border categories Lawyersʹ World Global Awards 2012 Market leading shipping finance practice that is truly global. Chambers UK 2014 The partners take a hands on approach and are capable of handling complex, cross border deals. Clients say: They recognise itʹs about the personal relationships. Chambers UK 2014 This firm is highly regarded around the world for the strength of its shipping practice. Oil & Gas Law Firm of the Year (Singapore) Lawyer Monthly Legal Awards 2012 The firm delivers strong commercial and practical advice. Legal 500 Asia Pacific 2014...oil & gas expertise... Full Service Law Firm of the Year (Singapore) ACQ Global Law Awards 2012 Watson, Farley & Williams Asia: FPSO Disputes
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OUR OFFICES 06 Spain Greece Singapore Thailand China Madrid Athens Singapore Bangkok Hong Kong Maria de Molina, 4 28006 Madrid Tel: +34 91 515 6300 Fax: +34 91 563 1630 6th Floor, Building B, 348 Syngrou Avenue, Kallithea 176 74, Athens Tel: +30 21 0455 7300 Fax: +30 21 0459 4004 6 Battery Road #28 00 Singapore 049909 Tel: +65 6532 5335 Fax: +65 6532 5454 Unit 902, 9th Floor, GPF Witthayu Tower B 93/1, Wireless Road Patumwan, Bangkok 10330 Tel: +66 2 665 7800 Fax: +66 2 665 7888 Units 1703 1707 One Pacific Place 88 Queensway Hong Kong Tel: +852 2168 6700 Fax: +852 2918 9777 All references to Watson, Farley & Williams and the firm in this publication mean Watson, Farley & Williams LLP and/or its affiliated undertakings. Any reference to a partner means a member of Watson, Farley & Williams LLP, or a member or partner in an affiliated undertaking, or an employee or consultant with equivalent standing and qualification. The transactions and matters referred to in this publication represent the experience of our lawyers. This publication is produced by Watson, Farley & Williams. It provides a summary of the legal issues, but is not intended to give specific legal advice. The situation described may not apply to your circumstances. If you require advice or have question or comments on its subject, please speak to your usual contact at Watson, Farley & Williams. This publication constitutes attorney advertising. 100 000 2390 SIN 10/02/2014 Watson, Farley & Williams 2014 Watson, Farley & Williams Asia: FPSO Disputes
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