In claiming for 1,733 and 1,825 days of payment entitlement at the “termination rate” of USD 1,100 per day, under the respective rig 139 and rig 121 lease agreements, Santa Fe has deducted the period of days during which the two rigs earned the higher drilling rates of KWD 1,380 per day - that period being 93 days in the case of rig 139 and one day in the case of rig 121.

KUFPEC acknowledges that the Challenger contract also contained a provision calling for the possible payment of a demobilization fee, but it states that KUFPEC TUNISIA was not required to pay this fee after its early termination of the contract, due to a waiver by Challenger It further contends that KUFPEC TUNISIA would not have been required to pay this fee had the Challenger contract not been terminated early, because KUFPEC TUNISIA intended to exercise the option to extend the contract for the drilling of the additional appraisal wells that were listed in its original plan of development The final component of KUFPEC's claim for higher drilling costs pertains to a disparity in drilling rates charged by Intairdrill and Challenger for their respective rigs.

In support of this claim element, IOOC provided a calculation sheet of the claim amount, daily rental rates of drilling rigs published in an industry journal and notification of the approval of NIOC's Board of Directors for NIDC to charge IOOC for the rigs' rental.