Stolt Offshore Sells Drill-Support ROV Business

Wednesday, December 03, 2003
Stolt Offshore S.A. has signed Heads of Agreement with Oceaneering International Inc. for the sale of its ROV drill support business, consisting of a fleet of Remotely Operated Vehicles (ROV's) and their ancillaries, together with related contracts and employees. The transaction, which has a value of approximately $50 million before minority interests, is subject to due diligence. Tom Ehret, Chief Executive Officer of Stolt Offshore S.A., said, "This sale is part of our programme of disposals of non-core assets and businesses. It includes drill support ROV's and contracts in place in the North Sea, The Americas, and West Africa. Stolt Offshore will continue to be a major operator of ROV's in relation to our offshore construction business. We are happy to see our ROV drill support employees and assets going to a market leader in this segment."

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Wind-powered Oil Recovery Project Green-lighted

The DNV GL-led WIN WIN Joint Industry Project (JIP), which melds offshore wind with offshore oil and gas, shows that for suitable fields,finds that  wind-powered

Barge Master Wins Innovation Award at OTC

The Barge Master T40 motion compensated knuckle boom crane has been recognized for technological innovation, winning the Spotlight on New Technology Small Business

Keppel Acquires LeTourneau

Keppel Offshore & Marine (Keppel O&M), through its wholly owned subsidiary, Keppel Offshore & Marine USA, Inc., has completed the acquisition of Cameron International

 
 
Maritime Careers / Shipboard Positions Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.0627 sec (16 req/sec)