Atkins acquires Boreas for $7.4 million

Offshore staff

HOUSTON -- Atkins has acquired Boreas Consultants Ltd. for $7.4 million.

Boreas specializes in subsea engineering of oil and gas facilities with offices in Aberdeen, Cranfield, Newcastle, and Weybridge.

"Boreas has an outstanding reputation in subsea engineering and we are delighted to welcome the team on board," says Martin Grant, managing director of Atkins. "They will play a vital part in broadening our technology footprint and in aiding our international expansion plans.

"In the coming years, an increasing proportion of oil industry spend will relate to subsea facilities," says Grant. "There are considerable opportunities for our expanded group to offer our clients integrated solutions with a subsea element. Additionally, we see great potential in developing our existing strong position in integrity management of structures to encompass subsea facilities, giving us a complete portfolio of services. Strong oil prices have led to a significant increase in demand for integrity management services as companies seek to extend the lives of their production assets."

01/09/2007