A Review of the Nigerian Energy Industry

SBM inks $180m newbuild sale

The Netherlands SBM Offshore11 November 2013 – Floating production contractor SBM Offshore has sold a newbuild vessel to Malaysian outfit Daya Offshore Construction for $180 million in cash.
Netherlands-based SBM said it signed a memorandum of agreement with Daya’s subsidiary Daya Vessels for the sale of the diving support and construction vessel SBM Installer.

The transaction, which is subject to Daya Vessels securing financing, is expected to close in the first quarter of 2014. Board approval has been obtained by both parties.

SBM chief executive Bruno Chabas said the sale was in line with the company’s strategy to refocus its core business on floating production, storage and offtake vessels and associated products and services, while disposing of non-core assets.

The SBM Installer was built by Keppel Singmarine in Singapore. The double-decked vessel features a fully integrated 12-man saturation diving system capable of operating in up to 300 metres of water. It also has a 250-tonne knuckle boom crane and 150-tonne winch to enable it to carry out offshore construction and installation work in water depths of up to 1500 metres.
*Danica Newnham, Upstreamonline

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