Norway's Nexus says plans to lay up only vessel

Newswire

OSLO, Feb 25 (Reuters) - Norwegian oilfield services firm Nexus Floating Production said on Wednesday it would lay up its first production vessel upon delivery in June because of a lack of projects. Nexus, located in Singapore, has ordered two floating production, storage and offloading (FPSO) vessels from Samsung Heavy Industries in Korea. The global economic downturn has led to delays and cancellations of several petroleum developments as crude prices have plummeted from peaks hit in ...

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