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>

<< Dec 2017 >>
MTWTFSS
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

European Gas Conference 2018

The European Gas Conference celebrated its tenth anniversary amid an air of increasing optimism following considerably shifting markets in the last few years…

read more >

Future Energy Asia Exhibition & Conference (FEA) 2018

The transformation and development of Thailand is a major priority for the government which creates incredible business opportunities…

read more >

The World Future Energy Summit (WFES) 2018

WFES will also hold its annual conference, which sees international government and business experts come together to discuss critical global…

read more >

HYPACK 2018

This training event will offer instruction on the newest features of HYPACK® 2018 as well as comprehensive training for both novice…

read more >