The two biggest shareholders in Golden Energy Offshore Services are exploring strategic options that could potentially reshape the future ownership structure of the Norwegian offshore vessel company.
Clear Ocean Partners and Pelagic Partners confirmed that they have launched a broad strategic review linked to their investment in the Oslo listed owner, opening the door to several possible scenarios including a partial or full sale of their shareholdings.
In a joint statement, the investors said the review could also involve other strategic alternatives tied to the company, although no further details were provided at this stage.
To support the process, the shareholders have appointed Clarksons Securities as financial adviser and Norwegian law firm Wikborg Rein as legal adviser.
For now, neither side has disclosed a timeline or indicated whether discussions with potential buyers or partners are already underway.The investors also stressed that there is no guarantee the review will ultimately result in a transaction.
The development comes during an important transition period for Golden Energy Offshore, which has spent the past year restructuring parts of its business after facing mounting financial pressure.
The Ålesund-based offshore vessel owner has been actively selling assets recently as it works to strengthen liquidity and simplify operations. Earlier this year, the company agreed to sell three vessels in a deal valued at around $85m.
Golden Energy also manages two subsea vessels built in 2021 that were brought under management in 2024 from affiliates connected to Clear Ocean Partners and Pelagic Partners. One of those vessels was recently sold to Astro Offshore.
At the same time, the company continues operating a fleet that includes four platform supply vessels under sale-and-leaseback agreements with Neptune Maritime Leasing. According to shipbrokers, the PSV fleet is currently valued at approximately $106m.
The latest shareholder review follows a difficult financial period for the offshore owner. In its third-quarter 2025 results, management warned about liquidity pressure and said it was evaluating several options to reinforce the balance sheet.
The company later secured a short-term loan in December 2025 before raising additional capital through a private placement. Most of those funds were used to settle overdue liabilities, repay short-term debt and cover salary and tax obligations.
This latest move by the company’s largest shareholders could now represent the next stage in Golden Energy Offshore’s ongoing restructuring, as investors reassess their long-term position in the Norwegian offshore market.
