Standard Drilling closes platform supplier sale

Norway-based offshore vessel owning company Standard Drilling has completed the sale of its platform supplier Standard Supporter. 

Standard Supporter PSV – Source: Flickr; Author: Rab Lawrence – under the CC BY 2.0 license

As reported in November 2019, Standard Drilling entered into a memorandum of agreement to sell one large, Norwegian-built platform supply vessel, Standard Supporter, for $15 million.

The ten-year-old platform supplier is a large PSV with 1,000m2 deck space, built at STX Brevik, Norway.

The transaction was completed on Tuesday, December 10, 2019, Standard Drilling informed. The company has, through its subsidiary Standard Supporter AS, received the transaction amount in full. The identity of the buyer has not been revealed.

Following the sale, the company will control, directly and indirectly, a fleet of 13 PSVs; four large PSVs 100% owned, and nine medium-sized PSVs with approximately 26% ownership interest, including one vessel on a bareboat contract.

Offshore Energy Today Staff

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