Cash-strapped Malaysian contractor Sapura Energy has completed the sale of a key asset — its Sapura 3000 pipelaying and crane vessel — for $71.5 million.

The vessel was finally divested on 11 August to Marshall Islands-registered Safeen Feeders 20, a subsidiary of United Arab Emirates’ Abu Dhabi Ports.

Sapura earlier described the sale as part of a reset plan for the group, “which focuses on Sapura Energy’s long-term sustainability by… improving its liquidity position, streamlining its operating model and providing greater flexibility for strategic growth”.