Fact Source: Financial Supervisory Service DART
💡 3-Second Summary
This filing is a corrected disclosure notifying that the expiration date for the parent company guarantee provided to SAME Netherlands B.V. regarding the P-79 FPSO project has been extended from December 5, 2026, to February 5, 2028.
📊 Key Filing Details & Key Figures Summary
1. Correction Details & Reason
- Original Disclosure: Decision on Debt Guarantee for Others (Originally Filed: June 14, 2021)
- Reason for Correction: Change in debt guarantee expiration date
- Corrected Item: Debt guarantee period end date updated from December 5, 2026, to February 5, 2028
2. Key Terms of Debt Guarantee
- Debtor: SAME Netherlands B.V. (Joint venture established with Saipem)
- Creditor: Petrobras (Brazilian State Oil Company)
- Debt Amount & Guarantee Amount: Omitted (Performance and payment guarantee for the company’s obligation under the P-79 FPSO construction and service contract; amount cannot be accurately calculated at this stage)
- Total Equity: KRW 3.87T (Based on consolidated financial statements as of year-end 2020, rounded at 100-million KRW level)
- Guarantee Period: June 11, 2021 ~ February 5, 2028
- Board Resolution Date (Guarantee Effective Date): June 11, 2021
3. Other Key Reference Information
- Parent company guarantee provided to the client in connection with the P-79 FPSO contract
- The guarantee end date represents the estimated completion date of performance and payment obligations and is subject to further changes during project execution
- Debtor Financial Summary (At incorporation): Total Equity KRW 68M / Capital KRW 68M (Applied FX rate of 1 EUR = 1,357.46 KRW as of June 11, 2021)
📝 Editor’s Comment (Key Follow-up Checkpoint)
📌 Potential Schedule Adjustments to the Debt Guarantee Period
This corrected disclosure reflects the extension of the estimated end date for the parent company guarantee related to the P-79 FPSO project to February 5, 2028. Since the expiration date is based on the estimated completion of the joint venture’s contractual obligations, checking whether any further timeline adjustments occur as construction progresses is important for understanding the duration of the company’s guarantee obligations. Future updates can be tracked through corrected disclosures and regular reports (Quarterly, Half-Year, or Annual Reports).
📢 Disclaimer & Source Information
Source: This content was structured and newly written based on officially submitted data from the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System (DART).
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