SBM Offshore Lower on Troubles at North Sea Project

1538 GMT 11 July [Dow Jones] SBM Offshore (SBMO.AE) shares close 6.7% lower at EUR10.45 after media reports about troubles at a project in the Yme oil field in the Norwegian sector of the North Sea, in which the company is involved. Canada’s Talisman Energy (TLM.T) was reported to have evacuated an oil platform in the area. Neither of the companies nor the Norwegian authorities responded to requests for comment.

[I]- Robert Vandenoever, Dow Jones Newswires[/I]

According to a Reuters report:

“The reason why we chose to evacuate the installation was that we failed to receive a piece of documentation regarding the jack-up, and for security reasons we chose to evacuate,” said Talisman spokesman Andreas Middlethon.

“The substructure is critical for the security of the installation, so we decided to be extra careful and evacuate. We do not know the duration of this delay, but hope that SBM (the platform’s owner) will be able to furnish the required documentation soon,” Middlethon added.

Better safe than sorry is right

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