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NNPC, Samsung, Total in Fresh Row over $3.3bn Egina Project

27th October, 2014

hexgear

The Nigerian National Petroleum Corporation (NNPC), Samsung Heavy Industries Nigeria Limited and Total Upstream Nigeria (TUPNI) Limited are heading for a collision over the demand by Samsung to raise the cost of the $3.3 billion Egina project, THISDAY has learnt.

After a 19-month delay, Samsung recently performed the ground-breaking for the construction of a mega fabrication yard for the integration of Totalís Egina Floating Production Storage Offloading (FPSO) vessel.

However, concerns have mounted that the multi-billion dollar project located in Oil Mining Lease (OML) 130 may not be delivered on schedule.

THISDAY gathered that Samsung, the contractor building the Egina FPSO vessel for Total, has submitted a Change Order Request (COR) on engineering and schedule/cost impact, inflating the project cost by about $400 million, a demand which Total has rejected.

Asset: Egina Source: http://www.thisdaylive.com/art...

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