Scandinavian Oil-Gas Magazinehttp://www.scandoil.com/moxie-bm2/news/eoc-extends-completion-deadline-of-sale-of-fpso-en.shtmlEOC extends completion deadline of sale of FPSO entities to PerisaiOn 30 November 2012. EOC Limited announced that it had entered into an agreement with Perisai Petroleum
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Edit page New page Hide edit links On 30 November 2012. EOC Limited announced that it had entered into an agreement with Perisai Petroleum Technologi BHD (Perisai) in relation to the sale (the 'FPSO Sale') of 51% equity interest in the entities owning and operating the FPSO 'Perisai Kamelia' (formerly known as "Lewek Arunothai") to Perisai and for the acquisition (the 'E3 Acquisition') from Perisai of 50% of the equity interest in SJR Marine (L) Ltd ("SJR Marine"), the owner of the offshore construction barge, the Enterprise 3 (the FPSO Sale and the E3 Acquisition collectively, the 'Transaction'). On 28 March 2013, the Company released a related announcement, in respect of amendments to the terms of the Transaction, including a reduction of the percentage of equity interest to be acquired by EOC in SJR Marine from 50% to 49%. The latter announcement also referred to the extension of the completion deadline of the FPSO Sale to 30 June 2013. On a related note, both EOC and Perisai have hereby agreed to further extend the completion deadline of the FPSO Sale to 15 August 2013. |