AUSTRALIA

BW Offshore snares $A35M from BMG settlement

AFTER a long legal tussle, the Basker Manta Gummy joint venture has settled all claims relating to the termination of a letter of intent to BW Offshore for the supply of a new vessel for the BMG project in the Gippsland Basin.

Marija Stojkovic

The settlement, the terms of which are confidential, involves a total cash payment of $US32.5 million ($A35 million) to be paid by the BMG JV to Norwegian BW Offshore within 14 days of the settlement agreement....

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