Axxis Geo Solutions to sell survey vessel to Sanco

Financially troubled ocean bottom node seismic player Axxis Geo Solutions has entered into an agreement with Sanco Holding regarding the sale of the 2002-built survey vessel Neptune Naiad, including certain equipment.

Furthermore, Axxis Production, a wholly owned subsidiary of Axxis, has entered into a time charterparty for the 2008-built survey vessel Sanco Star to carry out the contract with an international energy company in the North Sea scheduled to start in Q2 21.

Completion of the sale and charter agreement are conditional upon the decision by the District Court of Asker and Bærum becoming legally binding, Axxis said in Oslo Exchange filing.

End-April this year, the company received creditors’ approval for its restructuring plan after it filed for bankruptcy protection in February.

The Oslo-listed Axxis said that 106 out of the 110 creditors voted in favor of the reconstruction proposal.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
Back to top button