Deep Sea Mooring Acquired by HitecVision

Press Release
Monday, April 29, 2013

HitecVision acquires 100% of Deep Sea Mooring, a subsidiary of Odfjell Drilling, a privately owned international drilling contractor.

Deep Sea Mooring is a significant provider of rented mooring equipment, pre-lay mooring solutions and ancillary services to E&P companies and drilling rig operators on the Norwegian Continental Shelf.

The company was established by Odfjell in 2008 as an in-house mooring service company and has become one of three providers of mooring rental equipment, pre-lay mooring solutions and ancillary services to E&P companies and drilling contractors operating on the Norwegian Continental Shelf.

Deep Sea Mooring has an estimated 25 market share of the NCS mooring equipment rentals market, serving it through their locations in Mongstad and Kristiansund, Norway.

HiTecVision is a leading private equity investor specialized in buyouts and growth-stage investments in the oil and gas industry.

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