Sapura Energy Sells Vessel for $71.5M

Source: www.gulfoilandgas.com 5/30/2022, Location: Middle East

Sapura Energy Berhad, wishes to announce that its wholly-owned subsidiary Sapura 3000 Private Limited (“Sapura 3000 Pte. Ltd.”) has entered into a Memorandum of Agreement (“MOA”) with Safeen Feeder Company – Sole Proprietorship LLC, a company in the Abu Dhabi Ports Group of Companies, for the disposal of its pipe-laying and crane vessel known as Sapura 3000 for a total cash consideration of USD71.5 million or approximately RM312.8 million.

The price of the vessel was based on a willing buyer-willing seller basis, after conducting an international Request for Proposal process.

The proposed asset disposal exercise is part of the Group’s Reset plan, which focuses on Sapura Energy’s long-term sustainability by improving its liquidity position, streamlining its operating model and providing greater flexibility for strategic growth.

The cash generated from the proposed disposal of Sapura 3000 will be utilised for working capital and to reduce the borrowings of the Group. Sapura Energy expects the sale of the asset to be completed by the middle of July, this year.

The Sapura 3000 is a versatile heavy lift pipe laying vessel, equipped with a 3,000 short tonnes revolving mast crane, capable of executing deep and shallow water projects. Sapura 3000 was built in 2008 and is currently sailing under the flag of Malaysia.


Brazil >>  8/11/2022 - Petrobras informs that it has begun the opportunity disclosure stage (teaser), referring to the sale of its mining rights for research and mining of p...
Angola >>  8/10/2022 - Afentra plc, an upstream oil and gas company listed on AIM and focused on acquiring production and development assets in Africa, is pleased to announc...

Denmark >>  8/10/2022 - Vestas continuously looks for partners that can support our strategic focus on our core business and help scale renewables efficiently in the long-ter...
Norway >>  8/10/2022 - • The transaction consideration of US$68 million includes NOK 309 million (~US$33 million) in deferred tax assets which are recoverable for Lime Petro...

Oman >>  8/8/2022 - Maha Energy AB (publ) (“Maha” or the “Company”), through its wholly owned subsidiary Maha Energy (Oman) Ltd., has entered into an Agreement with Mafra...
United States >>  8/8/2022 - Cenovus Energy Inc. (CVE) has reached an agreement to purchase bp’s 50% interest in the bp-Husky Toledo Refinery in Ohio. Cenovus has owned the other ...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.