It has entered a memorandum of agreement with Golden State Petro to buy the Samsung-built 309,000-dwt Ulriken (built 1998).
The Malaysian FPSO provider said the purchase is for its business expansion in the marine and offshore production sector.
TradeWinds reported late last month that the ship had been sold for a reported $27m to an unnamed conversion buyer.
The price at the time was described as firm.
