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Friday, 29 August, 2008, 18:10 GMT | more prices >>

Nexus losses shrink



By Upstream staff 

Norwegian floater specialist Nexus said today that its gross losses decreased $290,000 from the fourth quarter last year to a loss of $919,000 in the first quarter this year.

The outfit posted revenues of $62,000 for the first quarter, up from zero in the previous quarter.

The company said it has completed paid placement study work on behalf of oil companies during the first quarter.

Nexus has contracted two floating production, storage and offloading vessels to be built. The first vessel, Nexus 1 was contracted in June 2006 with Samsung Heavy Industries. In June last year the company signed the contract for the second vessel, Nexus 2. These vessels will be delivered from the yard in June next year, and the second in September 2010.


Tuesday, 22 April, 2008, 07:29 GMT  | last updated: Tuesday, 22 April, 2008, 07:42 GMT

Nexus's floating production, offloading and storage vessel: an artist's impression
 

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