HitecVision Acquires Tampnet from Statoil

Wednesday, July 07, 2010

Statoil and HitecVision have signed an agreement under which HitecVision will acquire Statoil’s subsidiary Tampnet AS. Tampnet operates a large high capacity communication network between offshore installations. Established by Statoil in 2001, Tampnet has since grown to serve 34 oil and gas fields and carrying traffic for over 60 platforms operated by a multitude of oil companies. Pioneering the industry, Tampnet has developed a high capacity, resilient and low latency communication network of fibre backbone cables and radio links, serving both the Norwegian and the UK sector of the North Sea.



Statoil’s core business is oil and gas production, but in order to foster new technologies, Statoil sometimes takes ownership of early stage technologies or businesses to provide funding and stable ownership to facilitate growth.



Investment Director Sigurd Paulsen in Statoil, and Chairman of Tampnet, said:  “Since establishing Tampnet we have been able to grow the business substantially to the point where it is now a successful and profitable company providing critical communication services to both Statoil and many other oil and gas companies in the North Sea. Tampnet has been matured to a stage where further growth can best be managed independently. We believe this solution is a good one for Tampnet and its customers.  The company has further growth potential in Norway, however the major potential for further growth lies in international expansion, and we believe that this expansion best can be provided by independent owners.”



Gunnar Halvorsen, Senior Partner of HitecVision, comments: “We are impressed by the development of Tampnet under Statoil’s ownership, and are pleased to have been entrusted by Statoil to become the new owners of the company.



Tampnet, being a niche supplier of critical services to the oil and gas companies, is typical of the sort of company HitecVision invests in. As offshore oil platforms are becoming more automated, and integrated operations between teams onshore and workers out on the platforms increase in scope and complexity, reliable communications facilities become ever more important.  We have followed and invested in this segment before, and believe Tampnet has great future potential. We look forward to working with the company’s management to develop it further.”



Per Helge Svensson, Managing Director of Tampnet, adds:  “We have had a great co-operation with Statoil as owner and customer, and look forward to continuing a close relationship.  HitecVision as a new owner is welcomed by both Tampnet management and employees. We know HitecVision as a leading investor for our type of company, with a strong track record in this segment, and we have noted the success of previous investments.  With this strong investor backing, we will be able to grow Tampnet further as the preferred supplier of high quality communications services to the global oil and gas industry.”



The transaction is subject to approval from relevant competition authorities, and is expected to close in August.



 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Norvestor to Become PG’s Largest Shareholder

Norvestor VI, L.P., a fund advised by Norvestor Equity AS, announced it has signed an agreement to invest in Ing Per Gjerdrum AS including its subsidiaries PG Hydraulics AS and PG Construction AS.

Crowley Receives Heavy-Lift Deck Barge in Singapore

Crowley Maritime Corporation’s solutions group announced today that it has received the first two of potentially four, new heavy-lift, ballastable deck barges (HDBs)

Signet Transports Second LLOG Rig to GofM

On September 14, five Signet Maritime ASD/Z-Drive tugboats, the SIGNET ENTERPRISE, SIGNET RELIANCE, SIGNET MAGIC, SIGNET WEATHERLY, and SIGNET VOLUNTEER successfully

Communication

The New Pipeline

Competition in the maritime communications sector is fierce, and ship owners are the winners as service from land-to-sea is becoming faster and cheaper. MR spoke

IMO Takes Important Step Towards Electronic Certificates

In the future, the IMO member States should accept the use of electronic certificates. This is the request of the Facilitation Committee (FAL) and, hence, the road is paved for less paperwork,

HPA to Introduce New Port Railway IT System

The Hamburg Port Authority (HPA) will implement the new Port Railway IT system, transPORT rail, in the night of 27 to 28 September 2014. To keep disruption on the tracks to a minimum,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Winch
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: 0.1336 sec (7 req/sec)