Standard Drilling Sells PSV

December 10, 2019

Image: S.D Standard Drilling
Image: S.D Standard Drilling

Cyprus-based company active in the oil and gas industry S.D Standard Drilling signed Memorandum of Agreement (MoA) to sell one  large Norwegian built Platform Supply Vessel (PSV), Standard Supporter for USD 15 million.

The transaction was completed yesterday (10 December 2019).  S.D Standard Drilling Plc. has, through its subsidiary, Standard Supporter AS, received the transaction amount in full.  
 
Following the sale, the Company will control, directly and indirectly, a fleet  of 13 PSVs ; four large PSVs 100% owned and nine medium-sized PSVs with approximately 26% ownership interest, including one vessel on a bare boat contract.

The company sold one UT 776 CD PSV  vessel, Standard Supporter, for USD 15 million last month. The Vessel is a large PSV, built at STX Brevik, Norway, in 2009, with 1,000m2 deck space.



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