Malaysian offshore services company Sapura Energy has completed the sale of its pipe-laying and crane vessel Sapura 3000 for $71.5 million to Safeen Feeder Company – Sole Proprietorship LLC, a company in the Abu Dhabi Ports Group of Companies.
The planned sale was first announced in May 2022, when Sapure Energy said the deal was part of its "reset plan, which focuses on Sapura Energy’s long-term sustainability by improving its liquidity position, streamlining its operating model and providing greater flexibility for strategic growth."
Sapura Energy said at the time that the cash generated from the proposed disposal of Sapura 3000 would be used for working capital and to reduce the group's borrowings.
According to Sapura Energy, the Sapura 3000 is a versatile heavy lift pipe laying vessel, equipped with a 3,000 short tonnes revolving mast crane, capable of executing deep and shallow water projects. Sapura 3000 was built in 2008 and is currently sailing under the flag of Malaysia.