Siem Offshore Acquires 100% Interest in Secunda Canada

As part of a recapitalization of Secunda, Norway’s Siem Offshore has acquired Birch Hill’s 50 percent ownership interest in Secunda Canada.

With this transaction, Siem Offshore becomes the 100 percent owner of Secunda Canada. The acquisition will not have a significant cash flow effect for Siem Offshore, according to a company statement.

In addition, Siem Offshore reported Wednesday that the AHTS vessel Avalon Sea was successfully delivered from Remontowa Shipyard to Secunda Canada LP May 12. The vessel is specially designed and equipped for Canadian waters and will go on a six year contract with an international oil company before June 1.



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Staff Engineering Proficiency Position... (Jun 27)
 -  IOG Welcomes OGA North Sea Tight Gas P... (Jun 27)
 -  Wood Group Pens Deal Which Will 'Impro... (Jun 26)
 -  Empyrean Energy Kicks Off Aggressive E... (Jun 26)
 -  TRACE Secures INPEX Deal, Creates Jobs (Jun 23)


Most Popular Articles

From the Career Center
Jobs that may interest you
Area Manager, Colorado
Expertise: Business Development|Construction Manager|Project Management
Location: 81303
 
Manager Gas Supply
Expertise: Asset Management|Business Development|Purchasing
Location: Midland, TX
 
Business Development Professional
Expertise: Business Development
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $46.65/BBL 1.78%
Light Crude Oil : $44.24/BBL 1.98%
Natural Gas : $3.04/MMBtu 0.33%
Updated in last 24 hours