The consideration for the disposal is US$15 million, subject to a retention sum of US$1.7 million which may be used by BP to offset against any payment obligations that may become due by KrisEnergy from the completion date until 31 December 2021.
Image courtesy of KrisEnergy
Read the article online at: https://www.oilfieldtechnology.com/offshore-and-subsea/08042020/krisenergy-completes-sale-of-andaman-ii-offshore-block-to-bp/
You might also like
The well was drilled by the ‘Deepsea Stavanger’ drilling rig, about 25 km southwest of the Oseberg field in the North Sea and 150 km west of Bergen.