Saga comments

From being an exclusive base operator at Mongstadbase since 1999, the company went through a challenging time when Statoil awarded the Norsea Group, through the 50% owned subsidiary Coast Center Base AS (CCB), the operator contract in January 2015. It was thus natural for our mission to enter into dialogue with CCB in order to maintain the company’s long experience and expertise at the base, at the best interest for both for the company’s future and for its employees.

Anders Nordby, Associate
Saga Corporate Finance

Saga Corporate Finance advised the owners of Mongstadbase AS in the sale to Coast Center Base AS

Mongstadbase was established in 1984 as a supply base for Hydro’s (now Statoil) activities on the Norwegian Continental Shelf. The base is strategically located along the coast outside Bergen, supplying approximately 20 installations in the North Sea and handles more than 2500 ship arrivals annually.

In 1999, Mongstadbase AS (MB) took over Hydro’s operational supply activities at the base and has been the exclusive base operator until January 2015 when the operator contract was awarded to the Norsea Group (CCB).

After awarding the base contract at Mongstad, CCB was a natural buyer, both in order to find a consistent solution to safeguarding MB’s expertise and experience at the base, but also to manage optimal resource utilization in a base industry characterized by strategic changes.

 

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Facts

  • Commissioned by: Wimoh Invest AS
  • Assigment: Sales mandate
  • Industry: Supply base to the Norwegian O&G industry
  • Number of employees: 260

Financials

Revenue (MNOK)
  • 402
  • 361
  • 383

Mongstadbase AS is a supply base operator at Mongstadbase, Norway's largest stand-alone supply base to the Norwegian Continental Shelf