Oceanteam Acquires Stake in new Subsea Services Company

Wednesday, September 05, 2007
Oceanteam Power & Umbilical ASA announced has signed a Heads of Agreement to acquire 60 percent of a new Subsea Services company against investment within the company. The company will be renamed to Oceanteam Subsea Services Ltd. The company has been recently founded by a team of subsea services experts headed by Graeme Kidd with an excellent track record within the Offshore Service Industry. Graeme Kidd has been working in the subsea industry for over 25 years and still retains an enthusiasm for the industry and its entrepreneurial approach to the delivery of problem solutions. The new company brings together a team of highly experienced and knowledgeable individuals who are of the view that they have novel innovation to offer the market place.

Oceanteam Subsea Services Ltd will be a separate business unit within OPU focussed on Hydro-graphic Survey, Inspection- Repair- and Maintenance Services, ROV Intervention, Integrity Management and Geotechnics. The management team will be based in Aberdeen and is initially capable to service clients within the North Sea, West Africa, Brazil and Gulf of Mexico. Oceanteam Subsea Services plans to grow its fleet of ROV's, equipment, personnel and market presence significantly over the next few years. The company plans to have a spread operational at earliest option, which will also be fitted with a trenching package.

The two OPU ordered Perry Slingby TRITION XLS construction and inspection ROV's, with delivery September 2007, will be allocated to Oceanteam Subsea Services Ltd and OPU will invest a further Euro 4.5 million in equipment, software and working capital through equity and loans. Oceanteam Subsea Services is expected to produce a positive EBITDA as from Q1 2008.

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Missing Person Rescued Near Brackettville

On July 31, Border Patrol Search Trauma and Rescue (BORSTAR) agents and CBP Office of Air and Marine rescued a man who was reported missing the previous morning.

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

Fire Aboard USS Mount Whitney

A fire broke out on board USS Mount Whitney (LCC 20) while the ship was in Viktor Lenac Shipyard (Rijeka, Croatia) July 31, 2015. There were no personnel injuries in the fire,

Marine Science

NAO Expedition to Study Walruses

From Naryan-Mar complex expedition started "Investigation Atlantic walrus habitat" for the study of animal southeastern Barents Sea. The expedition of seven

Korean Registry Okays Transas ECDIS

Transas, one of the world's leading providers of integrated navigation solutions, received ECDIS type-approval from the Korean Registry (Korea Marine Equipment Research Institute),

New Research Vessel for University of New Hampshire

All American Marine, Inc. (AAM) has entered into a contract with the University of New Hampshire (UNH) for the design and construction of a new aluminum catamaran research vessel.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1096 sec (9 req/sec)