1st Mar 2019 10:18
LONDON (Alliance News) - Serinus Energy PLC on Friday said it has started to transport its triethylene glycol unit to the Moftinu plant site in Romania, after testing and final assembly were completed.
Once on site, the TEG will be reassembled and work will commence to install the unit in preparation for gas production, Seriunus explained.
Meanwhile, the low temperature separation unit, LTS, will be transported to the Moftinu plant site once final assembly and testing is complete, the upstream oil & gas firm added.
Serinus Energy shares were trading down 9.8% at 11.50 pence each.
On Tuesday, the company said that both the TEG and the LTS units would take longer to complete than expected.
Serinus has filed suit against the subcontractors hired to build the two units, and had both the units transported to Romania where a different contractor will repair them.
The two units were first transported from Canada, where they had been manufactured, and arrived in Romania in late January. However, following the unpacking a re-assembly of the the units, both were found to be less complete than anticipated.
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