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
 -  ExxonMobil Starts Fuels Production at ... (Sep 21)
 -  How to Become a Safety Engineer (Sep 18)
 -  How to Become a Geologist (Sep 15)
 -  Oil, Gas Industry Leadership Group to ... (Sep 14)
 -  CB&I Wins China PDH Unit Contract (Sep 11)


Most Popular Articles

From the Career Center
Jobs that may interest you
Fluids Plant Operator
Expertise: Maintenance Technician|Mud Engineer / Drilling Fluids|Refinery / Plant Operator
Location: Monahans, TX
 
Nitrogen Transport Driver
Expertise: Heavy Machinery Operator|Truck / HGV Driver
Location: Dayton, OH
 
Nitrogen Operator
Expertise: Maintenance Technician|Production Operator|Truck / HGV Driver
Location: Odessa, TX
 
search for more jobs

Brent Crude Oil : $56.86/BBL 0.76%
Light Crude Oil : $50.66/BBL 0.21%
Natural Gas : $2.959/MMBtu 0.30%
Updated in last 24 hours