Middle East Economic Survey


No 16



Transocean Rejects GazpromForce Majeure Claim On Libyan Drilling Contract

Swiss-based Transocean has rejected a notice from Russias Gazprom asserting that Libyas ongoing embargo of Switzerland will prevent it from deploying a rig for drilling in Libyan waters. The Russian firm claimed force majeure on 6 April on the grounds that the MG Hulme Jr rig would be unable to operate in Libya due to a trade embargo enforced in March. The...