Apsara is offshore Cambodia
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. KrisEnergy
Also in this section
13 January 2025
With Namibia, Guyana and Brazil playing starring roles and important innovations being developed, business as usual has never looked so good
13 January 2025
Regional cooperation over the development of gas resources has the potential to bring peace and prosperity to the East Mediterranean
13 January 2025
Significant expansions are underway in both liquefaction and regasification capacity as LNG firms up its position as a long-term solution for the world’s energy needs
10 January 2025
New Petroleum Economist OPEC+ oil survey sees group improve compliance to ensure oil market stability going into 2025
