Following completion of the sale to the undisclosed party, expected by mid-year, SW Baret will undergo modifications to support its future intended role as a source vessel, including removal of streamer winches and associated streamer-related equipment.
The deal includes the divestment of certain source equipment.
“The divestment supports Shearwater’s ongoing work to optimize the fleet and to allocate capital in line with our strategic and financial priorities," Andreas Hveding Aubert, CFO of Shearwater, said. “Net proceeds from the transaction will be applied in accordance with the applicable mechanisms outlined in Shearwater’s bank and bond agreements.”
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.
