Friday 29 Mar 2024
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KUALA LUMPUR (Aug 11): Sapura Energy Bhd, which is disposing of assets to address its cash flow and balance sheet position, said it has completed the disposal of heavy-lift and pipelay vessel Sapura 3000 for US$71.5 million (RM317.82 million).

The disposal of Sapura 3000 was completed on Thursday (Aug 11), the group said in a brief filing with Bursa Malaysia.

Built in 2008, the vessel is equipped with a 3,000 short tonnes revolving mast crane, capable of executing deep and shallow water projects.

Sapura Energy took over the ownership of the vessel in 2017 following the discontinuation of its 50:50 joint venture with Subsea 7 SA.

The integrated energy services and solutions provider entered into a definitive memorandum of agreement on May 30 with Safeen Feeder Co – Sole Proprietorship Llc, a company under the Abu Dhabi Ports group, for the disposal of the vessel.

Sapura Energy shares settled unchanged at five sen, giving the group a market capitalisation of RM799 million.

Edited ByS Kanagaraju
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