Offshore Oil and Gas
As the search for offshore oil extends continually into deeper waters and more challenging exploration locations, the 'hardware' needed to support offshore E&P activities becomes ever more sophisticated and the financial and other risks, including environmental risks, grow exponentially. This in turn generates a need for significant risk analysis and the preparation and negotiation of procurement and employment contracts for offshore units which clearly define the allocation of risks and responsibilities between the oilfield operator and its various field contractors and suppliers.
Our lawyers have many years of experience working in the offshore sector for the exploration and production of oil and natural gas. We are very familiar with the practical issues associated with the installation and operation of production equipment offshore, combining our in-depth knowledge in marine and construction law. The complexity of these operations is such that a wide range of contractors will be involved, and will visit the field to assist in the installation, operation and maintenance of the various production and subsea facilities.
We advise oilfield operators, contractors, suppliers and insurers on a range of contracts and disputes relating to the procurement of offshore equipment, in particular seismic vessels, drilling rigs and drillships, ROVs, accommodation units, production facilities including FPSOs and FSOs, and ships including diving and other offshore support vessels. We also advise on the chartering/employment, management, secondhand sale and purchase, and ownership of these vessels. We have particular experience in relation to rig sharing agreements between oilfield operators.
Liquidated damages clauses are a key provision in shipbuilding and offshore construction contracts. They provide certainty as to the amount of money that will be paid as damages in the event of delays to delivery or failure to meet specified performance criteria regardless of the loss actually suffered. Not only do they fix in advance the damages that will be payable, they also serve to limit a [...]