General – Acquisition of PSVs and SSV
Golden Energy Offshore Services entered into a binding Memorandum of Agreement (MoA) on the acquisition of 4 PSVs and 1 SSV from subsidiaries of Dutch vessel owner Vroon Holding for a total of USD 94 million.
“This is something we have been working on for a long time. This investment transforms the company into a modern offshore company, with a new and environmentally friendly fleet. All five purchased vessels were built in 2015 and 2016, lowering the GEOS fleet’s average age to 7.9 years. In addition, we have gathered everything in one company and cleaned up the balance sheet. We will continue to expand and seek more opportunities in the market – and really become a player to be reckoned with in the offshore market going forward,” says CEO of Golden Energy Offshore Services, Per Ivar Fagervoll.
These transactions modernize and streamline the company’s fleet of PSVs and provide the company with versatile tonnage. This enables the company to seize market opportunities in both the oil, gas, offshore and renewables markets.
The 4 PSVs are of the same design as GEOS’ existing wholly-owned vessels, offering flexibility in chartering as well as operating costs. All of the company’s PSVs can provide supply services to a strong oil and gas market but are versatile vessels that can be equipped with accommodation units and gangways to also serve the offshore renewable energy market.
The four PSVs are of the same PX 121 design as GEOS’ existing fully-owned vessels, Energy Duchess and Energy Empress, providing flexibility in chartering as well as OPEX savings, GEOS said.
“The SSV VOS Sugar is a versatile, multi-purpose commissioning support vessel. With SPS class for 40 persons, capacity for a walk-to-work gangway and a small crane it has been used in both the oil & gas and offshore wind markets,” GEOS added.
“All of the Company’s PX 121 vessels are large PSVs providing supply services to the oil & gas market but may also be outfitted with accommodation units and gangways to opportunistically serve the offshore wind market,” GEOS said.
All five vessels acquired were built in 2015 and 2016, lowering GEOS’ average fleet age to 7.9 years.
The acquisition will be completed by September 2023 and completion is subject to certain third-party approvals.
