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Tap Oil receives $23m Varanus settlement

27-November-09 by Rebecca Lawson

Producer Tap Oil has received a revenue boost after it today reached an unconditional $US21 million ($A23 million) final settlement with its insurers over the Varanus Island gas explosion.

The settlement is compensation for the impact of last year's incident on oil and gas production and sales, as well as the cost to repair damage to the Varanus Island facilities.

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