Enegi Oil signs agreements for consortium targeting the Marginal Field Initiative

Published Apr 15, 2015
Enegi Oil

Enegi Oil says that Kongsberg Maritime and Braemar ACM Shipbroking have signed Collaboration Agreements with ABT Oil and Gas Ltd. (the Company's joint venture with ABTechnology Ltd.) becoming the first members of the consortium that is targeted at the delivery of the Marginal Field Initiative. The advent of the consortium will significantly drive forward the delivery of the Marginal Field Initiative.

Highlights: •Collaboration agreements signed with major industry players who will become members of the consortium to deliver the Company's Marginal Field Initiative: •Kongsberg Maritime ('KONGSBERG') - will provide 'Best in class' proven remote control and monitoring technology for ABTOG's normally unattended development solutions •Braemar ACM Shipbroking ('Braemar ACM') - will assist in sourcing financing, asset negotiations and shipyard negotiations •All parties will also market the Marginal Field Initiative through their global networks with a view to sourcing projects for the initiative •The signing of these agreement is expected to provide significant impetus to ABTOG's Marginal Field Initiative •Collaboration agreements provide that each of KONGSBERG and Braemar ACM perform their roles through the application of their own resources •Discussions ongoing with other complementary major industry players to join the consortium providing further appropriate expertise to the Marginal Field Initiative particularly in the areas of engineering design, project management, fabrication yard, topsides, duty holdership and funding •Principle of collaboration is that each partner demonstrates their belief and commitment to the Marginal Field Initiative through investment which is tailored to each party's contribution.

Tags: Enegi Oil, Kongsberg Maritime


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