Sapura Energy Sells Pipelayer to UAE-firm for $71.5M

Tuesday, May 31, 2022

Malaysian company Sapura Energy has agreed to sell its pipe-laying and crane vessel Sapura 3000 for $71.5 million to Safeen Feeder Company – Sole Proprietorship LLC, a company in the Abu Dhabi Ports Group of Companies.

"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," Sapura Energy said.

The cash generated from the proposed disposal of Sapura 3000 will be utilized 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.

According to Sapura Energy, 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.

Categories: Offshore Energy Vessels Middle East Pipelines Industry News Activity Asia Cranes

Related Stories

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Yinson Production Closes $1B Investment to Drive Further Growth

ABL Lands Work on BP’s Indonesian Gas and CCUS Project

ABS Greenlights SHI’s Multi-Purpose Deepwater LNG Floating Unit

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

Pakistan’s OGDC to Start Production at ADNOC’s Offshore Block by 2027

Woodside to Shed Some Trinidad and Tobago Assets for $206M

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Current News

One Shelf Drilling Rig Up for New Job in India, Other for Disposal

Four Jack-Up Drilling Rig Deals Set to Bring In $129M for Borr Drilling

PTTEP Hires Velesto’s Jack-Up Rig for Drilling Campaign off Malaysia

Yinson Production Secures $1.17B Refinancing for FPSO Maria Quitéria

Centrica and Thailand’s PTT Ink Long-Term LNG Supply Deal

Petrovietnam, Partners Sign PSC for Block Off Vietnam

Japan Protests China’s New Oil and Gas Construction Activities in East China Sea

CNOOC Signs Hydrocarbons Exploration and Production Deal with Kazakhstan

Thailand's PTT to Buy LNG from Glenfarne's Alaska LNG Project

Woodside and Jera Agree LNG Cargoes Supply for Japan’s Winter Period

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com