Oceaneering to acquire AGR Field Operations

Oceaneering AS has agreed to acquire AGR Field Operations (AGR FO) from AGR Group ASA and FieldCo Invest AS for approximately $240 million.

Offshore staff

HOUSTON – Oceaneering AS has agreed to acquire AGR Field Operations (AGR FO) from AGR Group ASA and FieldCo Invest AS for approximately $240 million. The deal is expected to close by year end, subject to Norwegian government approval.

“AGR FO will significantly increase our Inspection business, particularly in Norway, and provide us subsea inspection tooling to offer in other geographic markets in the future,” said Kevin McEvoy, president and CEO. “AGR FO’s Australian operations will be reported in our Subsea Projects segment.”

11/25/2011

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