Sea Production Welcomes New Majority Shareholder

Sea Production notes the announcement by Rubicon Offshore International Holdings Limited regarding the acquisition by Rubicon of a 52.95% interest in Sea Production from certain funds managed by Ashmore Investment Management Limited.

Oscar Spieler, Chief Executive Officer of Sea Production, said today:

"We welcome Rubicon as our new majority shareholder. We know Rubicon well and believe that our two companies and their organizations are a good fit, complementary, and enjoy a considerable degree of alignment. We believe the coming together of these two companies will create significant potential for synergies. We look forward to working together with Rubicon to achieve these synergies."