Dateline 2022-03-21, Baird Marine:

After looking at the ignominious end of Swire Pacific Offshore, the offshore supply vessel owner sold for a pittance to rival Tidewater (here), we turn our attention this week to another troubled Asia offshore powerhouse: Sapura Energy.

Here’s another business that has run out of room to manoeuvre.

The biggest but maybe not the best
Sapura is the biggest offshore construction company in Asia, the biggest rig owner in Asia outside of China, and a significant domestic producer of oil and gas in Malaysia via a joint venture with Austria’s OMV.

The company owns a swag bag of offshore construction assets, including its flagship Sapura 3500 DP3 derrick lay barge, plus five other derrick lay vessels, three fabrication yards in Malaysia, including Labuan Shipyard, a DP subsea construction vessel (117m LOA Sapura Constructor), three dive support vessels, two anchor handlers, six accommodation vessels including the 300-passenger, eight point moored Sarku-300, which is being advertised for sale), five ROVs, a launch barge, and two survey vessels. Sapura also owns a fifty per cent stake in a deepwater pipelay company in Brazil in conjunction with Seadrill, which owns six magnificent Dutch-built flexlay construction vessels there, each fitted with 250-tonne, active heave compensated cranes rated for 3,000 metres of water depth (here).

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