Report: Petrofac takes over Lewek Emas FPSO

UK’s offshore services provider Petrofac has reportedly completed the takeover of the Lewek Emas FPSO.

The sale of the FPSO was previously agreed in principle, between Emas Offshore and PetroFirst.

PetroFirst is a joint venture between First Reserve, a global, private equity and infrastructure investment firm focused exclusively on energy, and Petrofac, an international service provider to the oil & gas production and processing industry quoted on the London Stock Exchange.

The news of the completion of the transaction comes from the specialized website Vessels Value.

According to the website, the transaction for the 1978-built FPSO was completed on Thursday, September 22, 2016.

Under the deal, the seller will retain around 20 percent stake in the FPSO, with the buyer paying for 80 percent. The FPSO Lewek EMAS is chartered to Premier Oil as operator of the Chim Sao field, offshore southern Vietnam.

Offshore Energy Today has reached out to Petrofac, seeking confirmation. We will update the article if we get a response.

Announcing the intention to sell, Emas said it would use the net proceeds arising from the transaction or debt repayment, working capital and general corporate requirements.

Also, Emas is looking to move away from the ownership of FPSO assets and instead to leverage on the experience in FPSO conversion. The transaction will enable Emas to refocus the company’s business in the offshore support sector during the current challenging times in the oil and gas sector, Ezra, Emas’ parent company previously said.

Offshore Energy Today Staff

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 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 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

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