SBM will then charter back the vessel from buyer OS Installer, a 75-25 jv between Ocean Yield and SBM Offshore respectively, for a period of 12 years, as part of a Memorandum of Agreement between the two companies. The transaction is expected to close before the end of 2014 and is subject to final agreement on bank financing.
Built by Keppel Singmarine in Singapore in 2013, Bahamas-flagged SBM Installer is based on the MT-6024 design from Marin Teknikk in Norway, featuring a 'double-deck' design which improves safety as well as providing significantly more deck space, a class III Dynamic Positioning system and a fully integrated 12-man saturation diving system capable of operating at depths of up to 300 m.
SBM Offshore was this month required to pay a settlement of $240m to the Dutch Public Prosecutors Office (Openbaar Ministerie) over alleged bribery in Equatorial Guinea, Angola and Brazil.
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