Research – Axxis Geo Solutions to sell NEPTUNE NAIAD – 10.05.2021

Financially troubled seismic player Axxis Geo Solutions has entered into an agreement with Sanco Holding regarding the sale of the 2002 built survey vessel NEPTUNE NAIAD.

NEPTUNE NAIAD entering Grand Harbour, Malta back to 26th June, 2019

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

SANCO SPIRIT underway offshore Malta back to 17th March, 2011.

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

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Published – Tuesday 11th May, 2021