Crux joint venture calls off FPSO MOA

Nexus Energy's Memorandum of Agreement (MOA) with Vanguard Oil and Viking Shipping for the supply of an FPSO for its Crux liquids project has been terminated.

Offshore staff

MELBOURNE, Australia -- Nexus Energy's Memorandum of Agreement (MOA) with Vanguard Oil and Viking Shipping for the supply of an FPSO for its Crux liquids project has been terminated. The Crux joint venture was unable to make a final investment decision (FID) with Viking as the FPSO provider.

The Crux joint venture will now proceed to negotiate an alternative offer from an FPSO provider for the project.

11/21/2008

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