US, EU sanctions hit Nayara Energy’s EPC operations

Mumbai: The sanctions imposed by the European Union and the United States are beginning to impact Nayara Energy’s engineering, procurement and construction (EPC) work, according to people with knowledge of the development.

In the past month, two companies-France’s Technip Energies and Indonesia’s PT Timas Suplindo-have decided to stay away from EPC tenders of Nayara Energy, they said.

Queries emailed to Nayara Energy, PT Timas Suplindo and Technip Energies did not elicit any response till press time.