Stay updated with breaking news from Apsara Mini Phase. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
KrisEnergy has announced that it is unable to pay its debts based on actual and/or contingent liabilities and will proceed to liquidation. Accordingly, the Company has on 4 June 2021 submitted a winding-up petition to the Grand Court of the Cayman Islands.
Apsara field (File Photo - KrisEnergy) KrisEnergy, an oil and gas company focused on Southeast Asia, said Friday it had filed a winding-up petition and that it would proceed to liquidation due to its inability to pay debts. KrisEnergy warned about this outcome back on March 31 when it said that the production from the Apsara field, Cambodia's first producing offshore oil field and the company's "key" asset, had been below expectations, KrisEnergy, which brought the offshore oil field online in December 2020, had expected the field to provide the cashflow necessary to f...
Cambodia: KrisEnergy provides update on Apsara oil field review 28 Apr 2021 KrisEnergy refers to its announcement dated 31 March 2021 in relation to the production performance of the KrisEnergy development. Further to the Announcement, the Company wishes to update that it has received the independent review of the Apsara field’s performance by third-party petroleum engineering consultant, Netherland, Sewell & Associates, Inc. ('NSAI'). Based on performance data of the five wells since they were brought online on 23 February 2021, NSAI concluded that: Estimated ultimate recovery from the f...
Vultures start to circle Singapore’s KrisEnergy Singapore’s KrisEnergy is on the verge of collapse and eagle-eyed investors, seeking assets at bargain prices, are preparing to pick over the company’s carcass. However, given KrisEnergy’s recent dismal performance in Cambodia, there is not much left of interest. Updated: 23/04/2021, 8:54 am At work: KrisEnergy Register here for the Energy Voice daily newsletter, bringing you key news and insight from across the global energy landscape. Thank you for signing up to our newsletter. Something went wrong - please try again later. Sig...
21 April 2021 4:58 GMT Updated 21 April 2021 5:03 GMT Singapore independent KrisEnergy said its financial restructuring plan is no longer viable due to the sub-standard production performance of its Apsara oilfield offshore Cambodia. KrisEnergy had been banking on revenue from oil production at Apsara to steer it through a protracted restructuring exercise but, on 31 March 2021, the company announced that production and the ultimate field recovery factor were significantly lower than expected. Sign up for our new energy transition newsletter Gain valuable insight into the global oil an...