Supplied/Stuff
The FPSO Umuroa, right, moored near the Tui Oil Field offshore of Taranaki.
Taranakis oil and gas industry has been delivered another blow with the company servicing the Tui Oil Field going into liquidation, a flow on from Tamarind Taranaki’s collapse.
Norwegian-based BW Offshore have put BWU, a wholly owned subsidiary which operates the floating storage production and offloading vessel (FPSO) Umuroa, into voluntary liquidation after incurring millions of dollars of unsustainable costs.
In a statement, BW Offshore chief executive Marco Beenen said BWU was liquidated to prevent further costs, which had amounted to $US21m ($NZ31.4m) in 2020.
The action stems from the previous owners of the Tui field, Tamarind Tarana…
Read the full article at: https://www.stuff.co.nz/business/300140476/tamarind-taranaki-collapse-leads-to-offshore-oil-field-supply-company-being-put-into-liquidation
