The US contractor is midway through building the topsidesfor a production system for the UK North Sea that was thrown into limbo when ATPfiled for bankruptcy in August 2012.
Gulf Island had agreed to slow down a construction andpayment schedule but its customer may not hit an upcoming payment deadline atthe end of March.
“In the absence of a sale of ATP UK to a purchaserdesiring to complete the Cheviot project or utilize the structure in anotherlocation, it does not appear that Bluewater will be able to pay the remainingBalance,” Gulf Island said in a statement.
Despite
