Swedish oil explorer PA Resources has had its application for corporate reorganisation approved.
The company had previously announced that it would be making the move after summoning a new bondholders meeting earlier this week.
PA Resources said a further request was made for deferral of interest in respect of payments until the end of April.
Oil explorer Afren has called in the SFO (Serious Fraud Office) following concerns raised over expense payments.
The company said the issue focused on the hiring of an individual “within its operations in 2012 and the payment of certain travel and accommodation expenses connected to Afren’s activities”.
Afren notified bondholders of the findings by law firm Wilkie Farr and Gallagher’s.
A newbuild Diving Support Vessel (DSV) currently being built by Vard has been named as the ‘Deep Explorer’.
The state-of-the-art vessel was commissioned by French services company, Technip.
The company had previously announced in April plans to invest in the new vessel, which has been equipped with the latest navigational technology.
