The failure of Cliff Head's owners, Pilot Energy and Triangle Energy, to meet payroll does not bode well for their ability to pay the $200 million decommissioning cost.
Pilot Energy and Triangle Energy - two listed minnows with no revenue - may struggle to afford to decommission the Cliff Head platform off the WA coast.
The failure of Cliff Head's owners, Pilot Energy and Triangle Energy, to meet payroll does not bode well for their ability to pay the $200 million decommissioning cost.
Pilot Energy and Triangle Energy - two listed minnows with no revenue - may struggle to afford to decommission the Cliff Head platform off the WA coast.
A struggling deal between two companies will determine if an unused oil platform off the WA coast is used for carbon storage or needs to be decommissioned.
Triangle Energy has six months to find a viable route to market for oil that now goes to BP Kwinana or its Cliff Head operation could become a liability for the Federal Government.
