Oceaneering acquires subsea technology provider

Oceaneering International Inc. has acquired Ecosse Subsea Ltd., a provider of offshore engineering, seabed preparation, route clearance and trenching services.

Offshore staff

HOUSTONOceaneering International Inc. has acquired Ecosse Subsea Ltd., a provider of offshore engineering, seabed preparation, route clearance and trenching services for about £50 million ($69 million).

Headquartered in Aberdeen, Scotland, Ecosse builds and operates seabed preparation, route clearance and trenching tools for submarine cables and pipelines on an integrated basis that includes vessels, ROVs, and survey services.

Enabling technologies acquired in the transaction include Ecosse’s modularSCAR Seabed System, capable of completing the entire trenching work scope (route preparation, boulder clearance, trenching and backfill), and its newly developed SCARJet trenching system. This trenching system is designed for use with standard work class ROVs and adds jetting and post-lay trenching capabilities to the existing pre-cut methods offered by the SCAR plowing tools. 

Oceaneering intends to report the future financial results of Ecosse through its Subsea Projects segment.

03/05/2018

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