May 4 Dong Energy says:
* Dong Energy and supplier consortium of Technip France and Daewoo Shipbuilding and Marine Engineering Co. Ltd (DSME) have entered into a settlement agreement regarding dispute, including arbitral claims, related to EPC contract for the Hejre platform
* Says settlement agreed will have a positive impact for Dong Energy on cashflow and will reduce provisions made in relation to Hejre project with a positive EBIT effect of DKK 0.9 billion within discontinued operations
* Says according to agreement, supplier consortium holds full responsibility for disposal of Hejre platform, which will be dismantled by DSME
* The settlement does not affect the ongoing assessment with Bayerngas on re-development alternatives for the Hejre field.
* Says this does not change Dong Energy’s previously announced outlook for 2017 financial year as oil & gas is presented as an asset held for sale and discontinued operations
* Says Dong Energy will have no further responsibilities or liabilities with regard to platform Further company coverage
The Original Posted by Reuters