Altera Infrastructure announces strategic divestment of ALP Maritime Services

WESTHILL, United Kingdom, March 01, 2024 (GLOBE NEWSWIRE) -- Altera Infrastructure L.P. (Altera), one of the world’s leading suppliers of infrastructure assets to the offshore energy industry, today 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.”

“I like to thank Altera for their continued support over the years. Together we have grown ALP to become the market leader in its field, performing over 350 projects while being under the umbrella of Altera. We are sure that these vessels and the crew sailing them will make next owners as proud as they have made us,” said Paul Mulder, CEO of ALP.

About Altera InfrastructureAltera Infrastructure is a leading global energy infrastructure services group primarily focused on the ownership and operation of critical infrastructure assets in offshore oil regions of the North Sea, Brazil and the East Coast of Canada.

Altera Infrastructure has consolidated assets of approximately $4 billion, comprised of 31 offshore assets, including floating production, storage and offloading (FPSO) units, shuttle tankers, floating storage and offtake (FSO) units and a unit for maintenance and safety (UMS). The majority of Altera Infrastructure’s fleet is employed on medium-term, stable contracts.

For more information about Altera Infrastructure, please visit alterainfra.com

Investor Relations: [email protected]Media inquiries: [email protected]

Source: ALTERA INFRASTRUCTURE SERVICES PTE. LTD.

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