Lundin Terminates Sale of FPSO Bertam to Malaysia's M3nergy Subsidiary

Sweden's Lundin Petroleum AB's proposed sale of FPSO Bertam, currently operating at Bertam field in Block PM307 offshore Peninsular Malaysia, to M3nergy Berhad has been terminated, the company said Wednesday in its half year report that ended June 30.

The termination follows the failure of M3nergy to secure the necessary financing for the acquisition of the floating production storage and offloading (FPSO) facility within a certain timeline.

Lundin entered into an agreement Jan. 22 to sell FPSO Bertam to M3energy Investment Ltd., a wholly-owned subsidiary of M3nergy.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Shell to Sell Gabon Onshore Assets for... (Mar 24)
 -  Industry Pros Gather for Offshore Achi... (Mar 24)
 -  Statoil Makes North Sea Oil, Gas Disco... (Mar 24)
 -  Report: Hiring Managers See Salaries S... (Mar 23)
 -  Repsol Chooses Atlas for Onshore, Offs... (Mar 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Maintenance Assistant
Expertise: Maintenance Technician
Location: Denton
 
Maintenance Electronics Technician
Expertise: Maintenance Technician
Location: Denton
 
Equipment Operator
Expertise: Cementing|Coil Tubing|Maintenance Technician
Location: El Reno
 
search for more jobs

Brent Crude Oil : $50.56/BBL 0.15%
Light Crude Oil : $47.7/BBL 0.70%
Natural Gas : $3.05/MMBtu 1.32%
Updated in last 24 hours