As reported in June 2011 DONG Energy is implementing a permanent repair solution necessary to restore the integrity of the Danish North Sea platform Siri.

Following the progress of the project, the repair cost estimate has been increased from the initial expected DKK 2 billion to DKK 3.5 billion of which DKK 0.6 billion was incurred in 2011. For the remaining part (DKK 2.9 billion), the distribution between 2012 and 2013 is dependent on the progress of the project which is still uncertain. Currently, the expectation is that two-thirds will be incurred in 2012 and the one-third in 2013.

Flemming Horn Nielsen, Vice President and responsible for DONG Energy’s Danish oil and gas activities, underlines that the chosen repair solution and continued operation of the Danish North Sea platform Siri is still a solid business case despite increased cost of the repair work:

Tags: DONG Energy