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20 Jan 2020 6:45
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  •   Home > News > Business

    The company that owns the Tui oil field, off the Taranaki Coast, may be insolvent

    The company that owns the Tui oil field, off the Taranaki Coast, may be insolvent

    13 November 2019
    Directors of Tamarind Taranaki, the New Zealand business of a Malaysian oil and gas producer, have posted the warning on its company website. .

    Its business model is to buys oil fields late in their production life - and to assume responsibility for remediation when the field is closed.

    Tamarind says its financial position has become unsustainable.

    It's appointed administrators to run the company during a restructure.

    © 2020 Newstalk ZB, NZCity


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