Sale to Coast Center Base
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.