The Luxembourg-based company vowed not to bid other comparable engineering, procurement, installation and construction (EPIC) contracts, saying it had continued to experience delays in its supply chain as well as the start-up of pipeline fabrication owing to customs clearance problems and poor weather.
“I’m disappointed that we are obliged to take another loss provision on the Guara-Lula project," chief executive Jean Cahuzac said in a statement on the project.
"Our
