MMA completes Dampier base sale

Australian offshore vessel owner MMA Offshore has completed the sale of its Dampier Supply Base to Toll Group.

MMA Offshore will used the net proceeds from the sale of the supply base to reduce debt.

Also, the sale of MMA’s 50% share of the Toll Mermaid Logistics Broome Supply Base to Toll completed on April 28, 2017 with the net proceeds from the sale also applied to reduce debt.

The Supply Base sale strengthens MMA’s Balance Sheet and completes a key component of MMA’s strategic repositioning of its asset portfolio, the company said. It added that notwithstanding the sale of the supply bases, MMA will retain a significant presence in the North West of Australia through its offshore vessels business.

MMA currently has 13 offshore vessels operating in Australia and the region remains a key platform in MMA’s business strategy.

“MMA will continue to use the Dampier Supply Base to support its vessel operations under a service agreement with Toll and will maintain a regional office within the Dampier Supply Base. MMA will also continue to operate the Dampier Slipway facility for a period of at least 12 months providing
maintenance and repair services for the MMA fleet and third party vessel operators within the region,” the offshore vessel specialist explained.

Announcing its decision to sell, in March this year, MMA said it would realize approximately $44.1 million from the sale of the Dampier Supply Base asset and $8.7 million from its 50% interest in the Toll Mermaid Logistics Broome Supply Base, before adjustments and costs associated with the transactions.

Share this article

Follow Offshore Energy Today

Events>

<< Jul 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4

Uganda International Oil and Gas Summit 2019

Uganda International Oil & Gas Summit will once again examine the industry’s developments…

read more >

8th OIL & GAS AFRICA 2019 CONFERENCE

OIL & GAS AFRICA is one of the most prime regional & international Oil and Gas conferences in East Africa…

read more >

Gas Indonesia Summit 2019

Gas Indonesia Summit & Exhibition is returning for the fourth edition in Jakarta…

read more >

Shanghai Int Petrochemical and Offshore Oil & Gas and Chemical Industry Technology and Equipment Exhibition 2019

cippe Shanghai has attracts both…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply