On 30 November 2012. EOC Limited announced that it had entered into an agreement with Perisai Petroleum Technologi BHD (Perisai) in relation to the sale (the 'FPSO Sale') of 51% equity interest in the entities owning and operating the FPSO 'Perisai Kamelia' (formerly known as "Lewek Arunothai") to Perisai and for the acquisition (the 'E3 Acquisition') from Perisai of 50% of the equity interest in SJR Marine (L) Ltd ("SJR Marine"), the owner of the offshore construction barge, the Enterprise 3 (the FPSO Sale and the E3 Acquisition collectively, the 'Transaction'). On 28 March 2013, the Company released a related announcement, in respect of amendments to the terms of the Transaction, including a reduction of the percentage of equity interest to be acquired by EOC in SJR Marine from 50% to 49%. The latter announcement also referred to the extension of the completion deadline of the FPSO Sale to 30 June 2013.

On a related note, both EOC and Perisai have hereby agreed to further extend the completion deadline of the FPSO Sale to 15 August 2013.

Tags: EOC Limited