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

People & Company News

Viking Neptun Delivered for Technip

Viking Neptun was delivered from Kleven Verft to Eidesvik on February 17, and the naming ceremony was held in Stavanger on February 28. The vessel’s Godmother,

Royal Caribbean to Sell Splendour of the Seas

Royal Caribbean Cruises Ltd. announced that it has entered into an agreement to sell its cruise ship Splendour of the Seas to TUI Cruises in the second quarter of 2016.

Johan Sverdrup Contract to "Pioneering Spirit"

Statoil has signed a contract with Allseas for installation of three platform topsides on the Johan Sverdrup field.   The vessel will be installing the topsides for the drilling,

Marine Science

MOL Expands Container Fleet

Mitsui O.S.K. Lines, Ltd. has signed a deal for construction of four 20,000 TEU containerships with Samsung Heavy Industries. MOL also concluded an MOU for long-term chartering of two 20,

1st lifejacket for Working at heights

The first lifejacket custom-designed specifically for offshore personnel carrying out rope access or work at height has been developed by Survitec Group, the

Satellite Images Reveal Ocean Acidification

Ocean acidification can now be seen from space, highlighting an ongoing danger of climate change and revealing the regions most at risk.   Pioneering techniques

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1589 sec (6 req/sec)