Offshore engineering service firm Oceaneering International has announced that it has acquired the assets of Blue Ocean Technologies, a provider of riserless light well intervention (RLWI) services, for approximately $30m.
The acquisition includes three RLWI systems, two of which are currently under construction, and are expected to be fully functional by mid-2017.
Oceaneering expects to invest approximately $10m to complete construction of the two RLWI systems.
“We are pleased to complete the acquisition of Blue Ocean, which we believe will enable us to further penetrate the subsea well intervention market and support existing and new customers with additional safe, cost effective subsea solutions,” said Kevin McEvoy, chief executive officer of Oceaneering.
“The services offered by Blue Ocean are complementary to our subsea products operations, and this acquisition fits our strategy on increasing our services and products offerings focus related to the production phase of the offshore field life cycle,” McEvoy added.
