5 years in the past, we highlighted the surprising abandonment of the 234-metre lengthy floating manufacturing storage and offloading vessel (FPSO) Northern Endeavour, which has been completely moored between the Laminaria and Corallina oilfields, about 550 kilometres northwest of Darwin within the Timor Sea, since 1999, when it was put in by Woodside.
As manufacturing from the reservoirs fell, and the oil worth dropped in 2015, Woodside confronted the fee and energy of shutting down manufacturing, plugging and abandoning all of the wells, and decommissioning and eradicating the FPSO after sixteen years of manufacturing.
The Australian journalist Peter Milne recognized that in its 2015 annual report, Woodside had estimated that decommissioning would value US$156 million for its 60 per cent share within the discipline, giving a complete value of US$260 million.
Except… a purchaser could possibly be discovered.
Source link
