TechnipFMC Announces Intent to Sell Vessel | Rigzone
by Andreas Exarheas
Wednesday, November 13, 2019
TechnipFMC has announced its intent to sell the G1201 vessel.
TechnipFMC has announced its intent to sell the G1201 vessel “as part of its overall strategy to optimize the profile and size of its subsea fleet”.
The company has signed a memorandum of agreement (MOA) for the sale, which is subject to certain conditions. TechnipFMC expects to complete the sale in December.
The MOA includes a collaboration agreement with the buyer that would provide five years of exclusivity for a list of named subsea projects in a specific jurisdiction, TechnipFMC revealed. It also includes the right of first refusal for other projects not specifically named in the collaboration agreement, the company noted.
G1201 is a multipurpose DP2 heavy lift and pipelay vessel suitable for deep and shallow water projects, according to TechnipFMC’s website, which highlights that the vessel has accommodation for 264 people.
TechnipFMC describes itself as a global leader in subsea, onshore, offshore and surface technologies. The company employs more than 37,000 people, according to its website.
In August this year, TechnipFMC revealed that its board had unanimously approved a plan to separate the firm into two independent, publicly traded companies. The company’s plan to demerge into two firms has been dubbed “bold” by energy research and consultancy firm Wood Mackenzie.
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