Maersk sells their most expensive ship
SHIPPING: Maersk FPSOs, part of the A.P. Moller - Maersk Group, has sold the Maersk Peregrino FPSO to Norwegian Oil Company Statoil and their Chinese partner in the Peregrino field, Sinochem.
”In line with Maersk FPSOs’ strategy, we are constantly striving to optimise our business and our portfolio. This may include divestments, if timing and conditions are right. Maersk Peregrino is a very well performing unit and the sale to Statoil and Sinochem represents an opportunity with the right timing and the right buyer”, says Stig Hoffmeyer, CEO of Maersk FPSOs.
The parties have agreed not to disclose the terms and conditions of the sale
In 2007, the Maersk Peregrino FPSO project was initiated and the conversion from a VLCC to a complex offshore oil production installation required more than 16 million man hours and an investment in excess of one billion US dollars.
Today, FPSO Maersk Peregrino operates in the Campos Basin 85 km offshore Rio de Janeiro, Brazil, on a fixed contract. The unit produced well over 15 million barrels of oil during the first year of operation.
“Our employees have done a first class job and delivered an asset, which meets and exceeds performance targets. Maersk Peregrino attained steady state production during 2nd half 2011, and a high level of operational efficiency has been achieved with an excellent safety track record,” says Stig Hoffmeyer.
Maersk FPSOs will continue to provide operational services during an approximately six-month transitional period to ensure a safe and smooth handover of the unit. Thereafter, Statoil have chosen to hand over the daily operation of the FPSO to BW Offshore, a leading worldwide FPSO contractor.
Maersk, Statoil and BW Offshore are working closely to facilitate a smooth transition with focus on health, safety and environment and supporting all employees through the change.
Maersk FPSOs will continue to diligently service its clients and honour the contracts as required in connection with the remaining four assets in its portfolio.
The transaction is expected to be completed during 3rd quarter 2012. The gain from the transaction will not have an impact on the A.P. Moller - Maersk Group’s result.
Source: Maersk FPSOs
