Siem Offshore completes takeover of Secunda Canada. Takes AHTS delivery
- Business & Finance
International offshore vessel owner Siem Offshore has acquired 50 percent, or the other half of ownership interest, in the Canadian offshore vessel provider Secunda Canada.
With this transaction Norway’s Siem Offshore becomes the 100 percent owner of Secunda Canada, as it had bought the first 50 percent of the company in September 2013, for 16.25 million Canadian dollars.
Siem Offshore did not say how much it paid for the remaining part.
Furthermore, Siem Offshore announced on Wednesday that the AHTS vessel Avalon Sea was delivered from Poland’s Remontowa Shipyard to Secunda Canada on May 12, 2016. The vessel is, according to the company, specially designed and equipped for Canadian waters and will go on a six-year contract with an international oil company before June 1, 2016.
It further stated that the Avalon Sea will be the most advanced vessel in the Canadian market and will support two large production fields, Hibernia and Hebron, offshore Newfoundland and Labrador.
To remind, in 2014, Secunda Canada signed a five-year firm contract with Hibernia Management and Development Company (HMDC) and ExxonMobil Canada Properties, plus a total of 15 years options at charterers’ discretion, to support the Hibernia and Hebron fields.
Offshore Energy Today Staff