The Oslo-listed firm had been linked with the sale of a subsea construction vessel to a unit of China National Offshore Oil Company (CNOOC).

The vessel is due for delivery from Vard’s Brattvaag shipyard in Norway in October.

However Siem chief executive Terje Sorensen says the company has not sold the unit, according to Upstream, TradeWinds’ sister oil and gas newspaper.

Siem has taken delivery of one subsea vessel from Vard this year with three more units to come.

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