2001 Maritime

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GULF OFFSHORE 2001 event
Biloxi, MS, June 5 & 6

May 9, 2001

FGH stops work on Petrodrill rigs, car carrier
Friede Goldman Halter yesterday stopped work on the two Petrodrill Amethyst rigs in its yards in Pascagoula, Miss., and Orange, Texas. According to local press reports around 500 workers have apparently been laid off.

FGH, which has filed for Chapter 11 protection, has asked the bankruptcy court to void its contract with Petrodrill.

If the court accepts our motion, Petrodrill would regain possession of the rigs and would be free to take them elsewhere," company spokesperson Kristi Kelly told us.

Work on the car carrier that FGH has under construction for Pasha Hawii has also temporarily ceased. FGH is currently negotiating with Travelers Insurance Group, which has issued surety bonds on the project, and expects to reach a settlement soon.

Meantime, the first of the Ocean Rig Bingo units has left the yard and is currently preparing for sea trials.