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.