As part of the fleet renewal program, Sea1 Offshore has signed an agreement to sell the 2014-built OSCV Sea1 Spearfish to an independent third party. The vessel is currently on a contract with PXGEO. The remaining firm contract period is reflected in the sale price.

The sale is done on market terms and will result in a gain of approximately USD 40 million. Existing debt of USD 39 million will be repaid following the transaction.

The transaction is subject to customary closing conditions and closing is expected to take place in May 2025.