SBM Offshore to Take $600 Million Hit to Make the Pain Stop at Yme

AMSTERDAM--Dutch oil services company SBM Offshore N.V. (SBMO.AE) Thursday announced a raft of new measures to put an end to a lengthy conflict over a troubled oil and gas platform offshore Norway. SBM Offshore, which makes floating platforms for offshore oil and gas producers, has been dogged by problems related to the construction of the Yme platform. The issues have led … [Read more...]

SBM Offshore to Get Yme Platform Fixed by Year End, Dispute Continues with Talisman

Dutch oil services company SBM Offshore NV (SBMO.AE) Friday confirmed earlier reports that said it will fix the faulty legs of its Yme oil and gas platform, together with its commissioner Talisman Energy (TLM). The company said it has presented a plan to the Petroleum Safety Authority Norway regarding repairs to the grouting of the platform's legs. The repairs are scheduled … [Read more...]

Talisman’s Yme Platform is in Danger of Collapse

According to a letter obtained by Reuters from Talisman Energy to Norway's Petroleum Safety Authority (PSA), the Yme platform is still in very sketchy condition. "A structural collapse can arise through considerable shifts and deformations ...The unit can then in the worst case drop down vertically, penetrate the tank and/or tip over on either side with a danger of damaging … [Read more...]