The Oslo-listed company has been served notice by licence partners that it must cough up its share of abandonment costs for the Nini, Nini East and Cecilie fields off Denmark, estimated at around Dkr500 million ($90.6 million), by the end of this year.
Analysts have warned this claim, combined with faltering output figures that have hit cash flow, could constrain the company’s ability to raise further funds as it labours under a heavy debt load, having been hit by high exploration costs on an earlier string of dusters.
“The
