SEADRILL GHANA OPERATIONS LIMITED v. TULLOW GHANA LIMITED
ENGLAND AND WALES HIGH COURT
Drilling for oil is a risky business. Oil companies seek to protect themselves against the financial consequences of risk by appropriate clauses in their contracts, for example, by a force majeure clause. This case concerns a contract for the hire of an ex pensive oil rig which contained such a clause. During the course of a territorial sea dispute between neighbouring states the arbitration tribunal determining that dispute required drilling to cease in the disputed sea where drilling was to take place....
Sports Illustrated to cut staff as new owner takes over
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