Boskalis takes controlling interest in UAE G&G specialist

Royal Boskalis Westminster has taken a 62.5% stake in Sharjah-based marine geophysical surveys and geotechnical services specialist Horizon Group.

Offshore staff

PAPENDRECHT, the NetherlandsRoyal Boskalis Westminster has taken a 62.5% stake in Sharjah-based marine geophysical surveys and geotechnical services specialist Horizon Group.

Horizon, established in 2004, operates seven large survey/geotechnical vessels, three of which are on a long-term charter, and five smaller survey vessels, two jackup platforms, three motion-compensated drill towers for geotechnical services, and eight ROVs.

Management anticipates revenues exceeding $100 million during the 2018/2019 financial year.

Its activities are largely based offshore the Arabian Peninsula and in the Red Sea. Clients range from national oil companies to international oil and gas EPCI contractors.

Peter Berdowski, Boskalis’ CEO, said: “Horizon is a market leader in the Middle East and we are committed to continuing and expanding the high quality of services they deliver to their clients.

“Furthermore, Horizon with its strong market position in the Middle East, makes this addition highly complementary to the position we hold throughGardline in Northwest Europe.”

02/21/2019

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