pim f schreef op 22 februari 2014 10:47:
Deep Panuke delay costs SBM $27 million
THE CHRONICLE HERALD
Published February 20, 2014 - 7:32pm
The owner-operator of Deep Panuke’s production platform has taken another big financial hit due to delays getting the project up and running.
SBM Offshore NV recorded an additional US$27-million impairment charge last year related to the gas field in offshore Nova Scotia. The Netherlands company included the figure in its 2013 annual report, released Thursday.
The charge was the result of delays and required repairs to change equipment to increase production capacity.
SBM Offshore said unexpected costs related to Deep Panuke’s startup totalled US$37 million in 2013, including the impairment charge.
The gas project, which Encana Corp. of Calgary owns, reached full production in December, four months after gas started flowing from four subsea wells. Deep Panuke is capable of producing 300 million cubic feet of gas per day.
The 2013 impairment charge is the latest in a series of writedowns that SBM Offshore has made on the Nova Scotia project. The company also incurred a similar $29-million charge in 2012.
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