BTG, Deep Sea Supply form offshore supply vessel joint venture

Offshore staff

SÃO PAULO, BrazilBTG Pactual Oil & Gás Participações S.A. has agreed to buy 50% ownership in two Deep Sea Supply Plc subsidiaries that operate platform supply vessels and anchor handling tug supply vessels in Brazil.

The $852-million joint venture will get 14 vessels and will take over financing of those vessels plus six additional vessels under construction by Sinopacific Shipbuilding.

The agreement is expected to close in 1Q 2013.

BTG Pactual is an investment bank in Latin America.

1/23/2013

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...