General – Pipe-Laying and Crane Vessel
Sapura Energy’s wholly-owned subsidiary Sapura 3000 signed a memorandum of agreement (MoA) with Safeen Feeder Company – Sole Proprietorship to dispose its pipe-laying and crane vessel known as Sapura 3000 for US$71.5 million.
Safeen Feeder Company – Sole Proprietorship LLC is a company in the Abu Dhabi Ports Group of Companies.
The price of the vessel was based on a willing buyer-willing seller basis, after conducting an international request for proposal (RFP) process.
The asset disposal exercise is part of the Sapura Energy’s Reset plan, which focuses on the company’s long-term sustainability by improving its liquidity position, streamlining its operating model and providing greater flexibility for strategic growth.