Willbros Group, Inc. has completed the sales transaction of its Venezuela businesses.
Offshore staff
HOUSTON - Willbros Group, Inc. has completed the sales transaction of its Venezuela businesses.
The independent oil, gas and power contractor sold numerous marine assets in the transaction, including the marine yard and offices located on Lake Maracaibo, marine equipment, and interest in a project providing water injection services for Lake Maracaibo production.
"The sale of the Venezuelan businesses removes the uncertainty associated with our presence in that market and allows us to redeploy resources to manage and execute the record backlog in North America," said Mike Curran, chairman and CEO of Willbros.
The buyer was not identified. As the Willbros anticipated, it recognized no gain or loss on the disposal.
