New report: Oil companies have lost USD billions on Asian platforms

A report from consultant agency Rystad Energy claims that Norwegian oil companies have lost USD billions constructing a series of platforms at yards in South Korea and Singapore instead of building them in Norway.

The Goliat platform was constructed at Hyundai Heavy Industries, but has been plagued by issues ever since. | Photo: PR-foto/Eni Norge

USD billions have likely gone down the drain for Norwegian oil companies, which opted to construct drilling platforms in Asia instead of building them in Norway, claims consultant firm Rystad Energy.

In a new report, Rystad Energy determines that several platform decks built in South Korea and Singapore turned out 75 percent more expensive on average, than if they had been built at Norwegian yards, reports Dagens Næringsliv.

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