The group, together with its financial advisor, who has been providing advice on KrisEnergy’s restructuring exercise, Keppel Corp will “continue to monitor the updates given by KrisEnergy and determine the best course of action for Keppel Corp after NSAI’s independent report is made available in April 2021 and more information is disclosed by KrisEnergy,” says the group on March 31.
Following KrisEnergy’s updates on the Apsara oil field development in Block A, offshore Cambodia, Keppel Corporation noted that Netherland, Sewell & Associates (NSAI), a third-party petroleum engineering consultant, will be assessing the ultimate recovery from five development wells in Apsara Mini Phase 1A.
Keppel Corp also noted that “material uncertainty” exists over KrisEnergy’s ability to complete its current restructuring exercise and to continue as a going concern.
