Kreuz Subsea Marine has inked an agreement to acquire a dive support vessel at a price of approximately $22m from an unnamed seller, Seatrade Asia online reports. The vessel is expected to be delivered to the subsidiary of Singapore-listed Kreuz Holdings between 14-18 April, after the vessel is outfitted with an integrated saturation diving system and two pedestal active heave compensated cranes.
“The acquisition is undertaken as part of the group's business strategy to acquire more operating assets so as to expand its range of subsea services and enhance its subsea capabilities in shallow and deepwater offshore oil and gas operations,” Kreuz said.
It added that the purchase price of the vessel and the additional capital expenditure will be funded by a combination of loans from financial institutions, proceeds raised from capital market fund raising exercises, cash flows from operations and/or other financing methods.
“The acquisition is undertaken as part of the group's business strategy to acquire more operating assets so as to expand its range of subsea services and enhance its subsea capabilities in shallow and deepwater offshore oil and gas operations,” Kreuz said.
It added that the purchase price of the vessel and the additional capital expenditure will be funded by a combination of loans from financial institutions, proceeds raised from capital market fund raising exercises, cash flows from operations and/or other financing methods.