Tamarind administrators seek lifeline for Tui field

Wed, 13 Nov 2019

Administrators of offshore oil operator Tamarind Taranaki were today trying to put together a deal to keep the Tui oil field operating through until mid-2020 and avoid its premature decommissioning.Tamarind Taranaki, the operator of the offshore Tui mining permit, yesterday voluntarily appointed administrators in the belief that a restructuring of the business may enable the operation to continue so that creditors can be paid.The business, part of Kuala Lumpur-based Tamarind Resources, owes tens of millions of dollars to international and local...

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