SBM Sells Oilfield Services Vessel to Daya

Dutch oilfield services firm SBM Offshore announced Monday that it has agreed to sell the diving support and construction vessel SBM Installer to Daya Vessels Limited for $180 million. The deal is part of a strategy by SBM to focus its core business on FPSOs and associated products and services.

SBM said both parties have signed a memorandum of agreement, subject to Daya securing the financing required to complete the transaction, and it expects to close the deal during the first quarter of next year.

SBM described the SBM Installer as a state-of-the-art multi-purpose diving support and construction vessel (DSCV) based on the MT-6024 design from Marin Teknikk in Norway. Built by Keppel Singmarine in Singapore, the vessel features SBM's "double-deck" design, which is designed to improve safety as well as provide more deck space.

SBM CEO Bruno Chabas commented in a company statement:

"We are pleased to have reached an agreement with Daya Vessels Limited to sell the DSCV SBM Installer. Today's announcement is in line with SBM Offshore's stated strategy to refocus on its core business of FPSOs and associated products and services while continuing to dispose of non-core assets."

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