Oil firm ordered to decommission field, to cost nearly $100 million

The decommissioning of Malaysian oil and gas firm Tamarind Taranaki Ltd.'s Tui oil field following a spill is expected to cost $155 million New Zealand ($99.5 million), Interest.co.nz reports. The Environmental Protection Authority of New Zealand has ordered the company to decommission the field after oil was found in water around 400 meters from a floating oil and gas storage and offloading unit that Tamarind was using.

Read more.