AsiaOffshore

BW Offshore halts New Zealand FPSO liquidation

BW Offshore has entered into an agreement with the New Zealand government regarding the demobilisation of the FPSO Umuroa.

Tamarind Taranaki, the operator of Tui Field at New Zealand, terminated the contract for the FPSO last year after it went into insolvency in December 2019.

Under the agreement, the New Zealand government will cover costs for continued safe operations of the FPSO until the unit is disconnected from the Tui oil field.

Due to prevailing Covid-19 restrictions, the disconnection is not expected to be completed before second half of 2021.

As a result, the company has ceased the previously announced voluntary liquidation of BW Umuroa Pte, the owner of the FPSO Umuroa.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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