Malaysia’s Perdana Petroleum has entered into an agreement to sell one OSV at a price of $28.5m to Hauston Limited.

The expected time of delivery of the offshore vessel to the new owner will be no later than the end of November this year.

“The disposal is part of the fleet renewal programme. The gain on the disposal is approximately MYR1m ($304,100) and the proceeds will be channeled to the group to meet its operating expenses, repayment of bank borrowings and funding new acquisition of assets,” Perdana Petroleum announced.

Kuala Lumpur-listed Perdana Petroleum had earlier announced the acquisition of two 500-men accommodation work barges for $84m from Nam Cheong as part of its fleet renewal programme.