Indonesia's Wintermar Offshore Marine has secured a debt deal with banks to ease its financial burden.
It said a number of companies within the group have completed rescheduling agreements with key lenders.
Terms and principal repayments have been amended to more closely align with cash generated, it added.
It said: "The group considered this process necessary in view of the lower outlook on vessel utilisation and charter rates following the sustained impact of lower oil prices globally and the reduction in spending by its major clients in the oil and gas extraction industry."
