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.
WHAT DO YOU THINK?
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.
- Equinor, Partners to Develop Next Phase of Johan Sverdrup (Aug 27)
- Lundin Petroleum Raises Size Of Norway's Rolvsnes Oil Discovery (Aug 27)
- Output At Lundin's Grieg Field Back To Normal After Forties Outage (Dec 27)
Company: M3nergy Berhad more info
- Lundin Terminates Sale of FPSO Bertam to Malaysia's M3nergy Subsidiary (Aug 04)
- Lundin Sells FPSO Bertam to Malaysia's M3nergy for $265M (Jan 22)
- Petronas Awards 2 Exploration Blocks in Sabah to SapuraKencana-Led JV (Nov 21)