Singapore-based KrisEnergy, which holds a 43% interest in the PSC, said partner Neon had earlier been issued with a default notice for $1 million in cash calls for the 502 square-kilometre 3D survey completed last month but had missed the payment deadline.
As a result, “Neon Energy will be required to withdraw from the contract area, pursuant to the joint operating agreement”, KrisEnergy said in a statement.
The
