Offshore operator Oceanteam has announced that it is in the process of developing a restructuring plan that will secure a capital cost and structure to support its ongoing operations.
The company said it is facing serious financial restraints by its current capital cost and structure, which is restricting its ability to develop in the interest of its stakeholders. Oceanteam has initiated dialogue with stakeholders including banking groups and bondholders to shape the financial restructuring process.
Oceanteam is currently reviewing all alternatives available given the current market conditions.
Additionally, Oceanteam has appointed Wilhelm Bøhn as interim CFO to head the company’s financial department and lead the financial restructuring process.
