Hopes are being pinned on three oil wells giving troubled oil and gas firm Tamarind Taranaki the ability to pay its bills to up to 100 local suppliers. The Malaysian-owned firm was placed into voluntary administration after company directors issued a statement on Monday announcing it was "insolvent, or may become insolvent". ANDY JACKSON/STUFF Staff continued to work at Tamarind Taranaki's New Plymouth office after the company was under voluntary administration. ANDY JACKSON/STUFF Tamarind Taranaki was placed in voluntary administration on Monday. In October, Tamarind Taranaki did not renew a contract with BW Offshore for the floating production, storage and offloading (FPSO) vessel Umuroa after December 31 this year, putting 58 jobs at risk.

Source: Stuff November 13, 2019 18:18 UTC