TechnipFMC: agreement to sell G1201 subsea vessel

(CercleFinance.com) - TechnipFMC has announced its intention to sell the G1201 vessel as part of its overall strategy to optimise the profile and size of its subsea fleet.


It aims to finalise the sale next month, subject to certain conditions being met.

The memorandum of understanding also includes a collaboration agreement with the buyer that would undertake a five-year exclusivity on a list of specific subsea projects, as well as the right of first refusal for other projects that have not been specified.

As a result of this agreement, TechnipFMC has examined the book value of the G1200 vessel, the twin vessel of the G1201, and has recorded an asset impairment devaluation, excluding cash, of 125 million dollars for both vessels in Q3 2019.


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