Aker Energy cancels FPSO contract with Yinson
Published by Nicholas Woodroof,
The termination is due to the decision made by Aker Energy to postpone the activities under the DWT/CTP Petroleum Agreement and the development of the project until further notice amidst the Covid-19 pandemic.
YHB Group will preserves its right under the LOI for compensation due arising from the termination.
The aforesaid termination will not have any effect on the share capital and shareholding structure of the company. There is expected to be no material effect on YHB Group’s earnings and net asset per share for the financial year ending 31 January 2021.
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/01042020/aker-energy-cancels-fpso-contract-with-yinson/
You might also like
Equinor Energy AS concludes drilling of wildcat well 34/6-6 S
The well was drilled about 10 km north of the Visund field, and about 190 km northwest of Bergen.