Aquaterra secures funds for growth

EV Private Equity is investing in offshore engineering solutions provider Aquaterra Energy.

Offshore staff

NORWICH, UK – EV Private Equity is investing in offshore engineering solutions provider Aquaterra Energy.

The company, which has operations in Aberdeen, Norwich, and Cairo, supplies riser systems, offshore structures, and rental equipment to the oil and gas industry.

It recently designed, fabricated, and installed a newSea Swift platform for PICO Petroleum Integrated Services, lead contractor for the Amal field in the Gulf of Suez, offshore Egypt.

Aquaterra is also currently supplyinghigh-pressure riser equipment for a subsea abandonment project in the UK central North Sea.

The company claims growing interest from operators in its ‘WellStart’ service, designed to minimize third-party interfaces in early stage well construction, and providing expertise to address technical and economic challenges in determining the first phase of a well.

As part of the deal a re-finance package has been agreed with HSBC.

07/24/2017

More in Business Briefs