Exmar Provisional results first semester 2008

abarrelfullabarrelfull wrote on 12 Dec 2013 08:19

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30 / 07 / 2008

The FPSO FARWAH (owned 50/50 by Exmar and CMB) was delivered to its new owner on 15th May 2008. This sale generated a profit of USD 1.8 million and net cash proceeds of USD 16.0 million. A broker has commenced arbitration proceedings to pursue a claim for the payment of a commission on the sale price of the FARWAH (see note 32 of the Annual Report 2007). Exmar Offshore continues to operate and maintain the unit on behalf of the
new owner.

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