Altera Infrastructure announces strategic divestment of ALP Maritime Services

[escveritas]

WESTHILL, United Kingdom, March 01, 2024 (GLOBE NEWSWIRE) -- Altera Infrastructure L.P. (Altera) announced that they have divested ALP Maritime Group B.V., together with all its subsidiaries (ALP).

The divestment of ALP is part of Altera’s strategy to focus on its core segments, particularly the FPSO and shuttle tanker operations, as well as to prepare for investments in the Stella Maris CCS project in support of the global energy transition. The sale of this world class fleet of anchor handling tug (AHT) vessels also offers ALP further development opportunities under new and experienced ownership.

Ingvild Sæther, President and CEO of Altera Infrastructure Group Ltd. said: “The divestment of our towage segment is aligned with Altera’s strategy to own and operate critical infrastructure in the offshore energy sector and will allow us to focus more on our stable, medium and long-term contracts for our remaining assets and enable us to pursue exciting new opportunities in our developing CCS business, in particular following award of our first offshore carbon storage license in the Norwegian sector.”