Solstad Offshore Completes Sale of Normand Clough to SapuraClough (Australia)

Solstad Offshore ASA (SOFF), a Norway-based owner of offshore support vessels, completed the sale and delivery of the CSV “Normand Clough” to SapuraClough Offshore Pty Ltd.

The sale of “Normand Clough” was announced in August and was completed after closing hours on the Oslo Stock Exhange on the 1st of November 2013.

The terms of the transaction are confidential between the parties. The booked value of the vessel is equivalent to the option price. The transaction thus results in a limited net accounting effect for SOFF but will have a positive cash effect of approx. NOK 200 mill.

The “Normand Clough” is a 117m Subsea Support Vessel equipped with a saturation dive system, 2 x Remotely Operated Vehicles (ROVs), well intervention equipment, a helideck, moon pool and accommodation for 120 personnel.

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Subsea World News Staff, November 04, 2013;  Image: Solstad