Oceanteam Completes Sale of PLV North Ocean 105

Norwegian-Dutch offshore service provider Oceanteam and its joint venture partner McDermott have closed the sale of Oceanteam’s remaining 25 percent stake in the pipe lay vessel, North Ocean 105.

According to Oceanteam, the proceeds of this sale will be used for repayment of certain lenders and vendors upon such funds becoming available. The funds are being released in the week following the Oceanteam’s bond refinance becoming fully effective.

“Through this sale another important step in Oceanteam’s financial restructuring plan has been taken and this will allow the company to further develop its existing market activities and to take advantage of new business opportunities,” the Oslo-listed company said on Tuesday.

The PLV North Ocean 105 was built in 2012 by Metalship & Docks, Spain. The vessel is equipped with a reel-lay system capable of rigid and flexible pipelay in up to 3,000 meters of water.

Share this article

Follow Subsea World News

Events>

<< Oct 2017 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

BLACK SEA OIL AND GAS

Black Sea region continues to impose as a key area for the future of energy in Europe in reaching the diversification of supply and the energy…

read more >

SUBSEA POWER CABLES

2-day seminar covering best practice and emerging technologies for cost-efficient subsea cable projects from conception to installation…

read more >

24th Annual Africa Oil Week 2017

The Conference portraying five days of senior-level executive insights, with rich-content on corporate strategies and portfolio, exposure…

read more >

OTC Brasil 2017

OTC Brasil is organized by the Offshore Technology Conference (OTC) and Brazilian Petroleum, Gas and Biofuels Institute (IBP)…

read more >