SBM Offshore Sells Diving Support Vessel to New JV

Netherlands-based oilfield services firm SBM Offshore announced Monday that it has agreed to sell the DSCB SBM Installer to OS Installer for $150 million.

According to SBM, DSCV SBM Installer is a state-of-the-art multi-purpose diving support and construction vessel, based on the MT-6024 design from Marin Teknikk in Norway and built to DNV rules and international regulations. Built by Keppel Singmarine in Singapore in 2013, the vessel features the patented "double-deck" design which improves safety as well as providing significantly more deck space.

The vessel is equipped with a class III dynamic positioning system as well as a fully integrated 12-man saturation diving system capable of operating in up to 980 feet of water.  A 250-ton knuckle boom crane and 150-ton winch will enable the vessel to carry out offshore construction and installation work in water depths of up to 4,920 feet.

OS Installer is a newly-established joint venture between Ocean Yield (which holds a 75-percent stake in the business) and SBM.

Under the terms of the sale agreement, SBM Offshore will charter the vessel under a long-term bareboat charter for a fixed period of 12 years. SBM will have options to acquire the vessel during the bareboat charter period, with the first option exercisable after five years.



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