Oceaneering Says Insurer Owes It $2M For Chevron Rig Repair

Law360, Dallas (January 7, 2013, 3:51 PM EST) -- Oceaneering International Inc. on Friday blasted American Home Assurance Co.'s claims that it doesn't have to indemnify the company for $2 million stemming from faulty repairs on a Chevron USA Inc. oil rig, saying the insurer's arguments conflict with a Fifth Circuit decision from July.

On July 31, the appeals court held that Oceaneering — an oil field services company that was overseeing repairs stemming from Aker Maritime Inc.’s use of inferior bolts on Chevron’s Genesis Spar rig in the Gulf of Mexico — was obliged...
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