PETALING JAYA: Dagang Nexchange Bhd
’s (Dnex) 90%-owned subsidiary Ping Petroleum Ltd has received a letter of “no objection” from the North Sea Transition Authority (NSTA) in relation to its proposed development concept for the Avalon discovery in the Central North Sea, United Kingdom.
In a statement, the group said the company will now finalise conceptual development planning and begin front-end engineering works in preparation to submit the Avalon Field Development Plan, with the final investment decision anticipated for later this year.
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