August 21, 2012 / 10:58 AM / 5 years ago

Lotos checks if Yme repair is economically viable

WARSAW, Aug 21 (Reuters) - Polish refiner Lotos is analysing if the repair of the ill-fated North Sea oil platform Yme is economically viable, its deputy chief said on Tuesday.

“Is the platform repairable? Definitely yes. The question is whether it is economically viable, whether it won’t be possible to get oil earlier and at a lower cost,” Zbigniew Paszkowicz told a press conference.

Lotos took a 935 million zloty ($283.62 million) charge on Yme in its report on first-half results, cutting the book value of the upstream project, which faces problems with launching extraction, by 74 percent.

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