North Ocean 105 AS owns the North Ocean 105 advanced reel-lay vessel. The Malta-flagged vessel has a deadweight tonnage of 11,280t and gross tonnage of 10,764t.
Upon completion of the deal, McDermott will hold a 100% interest in North Ocean.
Scheduled for completion by 20 June, the transaction will enable Oceanteam to repay vendors and repurchase outstanding bonds.
The acquisition enables Rubicon to expand its well construction and completion products and services portfolio.