Carlyle will also assume Altera’s 50% ownership in the joint venture Altera&Ocyan.
“This is a rare opportunity to acquire an established and high-quality FPSO business with a strong management team, operating track record and long-term cashflows. Altera’s portfolio benefits from long-term contracts, strong FPSO market fundamentals and exposure to world-class operators, which position it well for success.”
—Bob Maguire, co-head of Carlyle International Energy Partners
Last year Altera sold ALP Maritime Group and its associated subsidiaries, which own a fleet of anchor-handling tug supply vessels. The company said at the time that the divestment would allow it to focus on its core activities, notably FPSO and shuttle tanker operations, and to prepare for investments in the Stella Maris Carbon Capture and Storage (CCS) project.
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.
