Siem Offshore eyes potential for deal with its banks

Another of Norway's major, distressed companies could be on track for a long-term deal with its lenders. Siem Offshore believes that the company could settle a final agreement soon.

Photo: PR / Siem

Siem Offshore could be on track to reach an agreement with its lenders that could ensure one of Norway's renowned oil and gas suppliers' survival at a highly critical moment in time.

The company, headed by billionaire shipping investor Kristian Siem, says in an update Monday that it has agreed on an extension of the deadline that previously set with its Norwegian and European lenders to May 29.

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