Green Energy Group Wraps Sale of 'Petrel Explorer'

Norwegian company Green Energy Group has completed the sale of its Petrel Explorer seismic survey vessel.

The company, which last year rebranded to Green Energy Group from Seabird Exploration to reflect a strategic shift in business towards green energy transition, in July entered into a binding agreement to sell the Petrel Explorer to an undisclosed buyer for an undisclosed sum.

The transaction was completed on August 29, 2022, and the company handed over the vessel and received the transaction amount in full. 

"The sale of the non-strategic Petrel Explorer further strengthens the company`s balance sheet and liquidity, enabling us to deliver on our asset-light strategy while aiming to consolidate the seismic markets we are involved in," said Ståle Rodahl, Executive Chairman of Green Energy Group.

Interestingly, while Petrel Explorer is listed as a seismic survey vessel, the vessel had last year secured a contract in the offshore wind industry.

In what was SeaBird's first foray into the offshore wind industry, the Petrel Explorer in April 2021 secured work to serve as an accommodation vessel for a wind farm maintenance campaign in the Baltic Sea. The 80.35 meters long vessel offers a total of 54 berths in 40 cabins.

Seabird Exploration bought the 2008-built vessel, then known as Boa Thalassa, in 2019.