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


Ship Conversion: Offshore Survey Vessel to Become a Flotel

Dutch shipowner C-Bed has contracted Wärtsilä Ship Design to supply the design for rebuilding its Seismic Survey Vessel, the Viking II, for use as a hotel vessel

Deepwater Downturn: Bump in the Road or Long-Term Slowing of Growth?

IMA/World Energy Reports has just completed a comprehensiveassessment of the five year outlook for the deepwater sector.  The new report – the 19th annual floater

Tidal Energy from Deep and Slow Waters

Deep Green, an underwater kite construction from the Swedish company Minesto, is set to be deployed in 2017 at the Holyhead Deep site off the coast of Anglesey, Wales.

Maritime Security Maritime Standards Naval Architecture Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.0768 sec (13 req/sec)