Bumi Armada Loses Woodside Petroleum (ASX:WPL) FPSO Case

Company News

by Rachael Jones

In a judgment issued on Friday afternoon, the Supreme Court of Western Australia found in favour of Woodside Petroleum (ASX:WPL) and dismissed Bumi’s claim.

Woodside and Bumi Armada subsidiary Armada Balnaves have been engaged in proceedings with the court in respect to the termination in March 2016 by Woodside of the services agreement for the Armada Claire FPSO.

Armada Balnaves commenced legal proceedings against Woodside Energy Julimar after the offshore oilfield operator cancelled its contract for the Armada Claire FPSO.

The trial was held in February-March 2019.

Shares in Woodside Petroleum (ASX:WPL) closed 0.4 per cent higher to $35.39 on Friday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.