Related Articles
Apsara is offshore Cambodia
Forward article link
Share PDF with colleagues

Indebted KrisEnergy set for liquidation

Disappointing Cambodian exploration results seal Singaporean independent’s fate

Indebted Singapore-based independent KrisEnergy will be liquidated following disappointing results from its Apsara oil field offshore Cambodia. KrisEnergy submitted a winding-up petition to the Grand Court of the Cayman Islands, saying lower-than-expected recovery and cashflow from Apsara means restructuring efforts are “no longer viable”. The firm says it is unable to pay its debts, while liabilities exceed the value of assets and the company was unable to secure fresh funding or alternative restructuring options. A hearing date for the petition has yet to be set. Apsara only began production in 2020, but output averaged just 2,883bl/d between 23 February and 30 March this year. KrisEnerg



{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Malaysia awards another offshore block to Shell
29 July 2021
The major has been awarded another block by NOC Petronas, but government involvement remains vital
Shell greenlights Whale venture
29 July 2021
Gulf of Mexico FIDs may be waning, but latest approval shows they can still be viable
Governments in race to unlock potential of CCS
29 July 2021
Policymakers must ensure key technology for reaching net-zero sustains momentum over the next decade
Sign Up For Our Newsletter
Project Data
PE Store
Social Links
Social Feeds
Featured Video