Northern Oil & Gas goes into administration

ADMINISTRATORS have been appointed to Northern Oil & Gas and its associated subsidiary companies TOGA Services and Timor Sean Oil & Gas Australia.
Northern Oil & Gas goes into administration Northern Oil & Gas goes into administration Northern Oil & Gas goes into administration Northern Oil & Gas goes into administration Northern Oil & Gas goes into administration

 

This morning a published notice on the Australian Securities and Investment Commission website stated that Robyn Duggan and Peter Gothard from KPMG had been appointed to the companies.

A spokesperson for KPMG told Energy News this afternoon that the administration was voluntary. 

The appointment of administrators comes just months after the national regulator took the extraordinary measure of shutting down the companies' Northern Endeavour floating production storage and offloading vessel.

In early July the National Offshore Petroleum Safety and Environmental Management Authority issued Northern Oil & Gas and contractor Upstream Production Solutions a prohibition notice ordering the immediate halt of production and cessation of operations.

At the time NOPSEMA noted it had ordered the shutdown due to an "immediate threat to health and safety" after the operator had failed to "adequately identify and rectify structural corrosion" at the facility.

NOPSEMA confirmed to Energy News this afternoon that the FPSO and Laminaria and Corallina fields remain shut in and that responsibility of the facility continues to lie with Northern Oil & Gas, now under administration.

Energy News reached out to Northern Oil & Gas for comment but was not able to receive a response.