The government has agreed to cover the costs of keeping a floating production ship moored at the Tui oil field until it can be disconnected and relocated. The floating production and storage vessel Umuroa has been stuck at Tui, about 50 kilometres off the Taranaki coast, since the field’s former operator, Tamarind Taranaki, collapsed late last year owing more than $380 million to unsecured creditors.The ship’s owner, BW Offshore, last month wrote off the vessel’s US$21 million book value and placed the asset, controlled b...
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