Company update
The COVID-19 pandemic and a lower oil price has led to an expected delay in the recovery within the oil-service segment. For the FPSO Dhirubhai-1, employment opportunities are currently under evaluation, but there is risk both with respect to the timeline of these projects and the sales price that can be achieved. Therefore, Ocean Yield ASA (“Ocean Yield”) expects to record impairments in its Q3 2020 consolidated financial statements, estimated to USD 95 million for the FPSO and USD 35 million for the offshore construction and cable-lay vessel Connector. The impairments will reduce