Dong ends Hejre dispute with DKK 0.9 billion settlement

Dong Energy has concluded the conflict over the Hejre field and agreed to a settlement with the French and South Korean supplier consortium which takes full responsibility for the disposal of the platform.

Photo: /ritzau/Magnus Holm/

Dong Energy has entered into a settlement with the supplier consortium behind the failed Hejre project. In the settlement agreement, France's Technip and South Korean Daewoo Shipbuilding take full responsibility for the disposal of the Hejre platform, around which Dong will have no commitments going forward, writes Dong in a corporate statement.

The settlement gives Dong a positive EBIT effect of DKK 900 million (EUR 121 million) in the company's discontinuing oil and gas division. It will bring a positive effect to the cash flow and reduce provisions to the Hejre project. One year ago, Dong made provisions of DKK 2,541 million for the cancellation and related contracts.

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