Hunting Plc has acquired Flexible Engineered Solutions (FES) for £50 million ($68 million) as part of the group’s plan to grow its engineering capability in deepwater and ultradeepwater markets.
FES has developed proprietary subsea fluid transfer technologies and systems for offshore oil and gas and renewable energy industries.
Its fluid transfer solutions are used at FPSOs and in subsea distribution systems.
FES will be integrated into Hunting’s Subsea Technologies operating segment, reporting to segment managing director Dane Tipton.
In Norway, Øgreid subsidiary Verket Investering has an agreement for the shares of Ramco Holding Norway and Ramco Norway from UK-based Ramco Pipetech Holdings.
Ramco provides care and maintenance of oil country tubular goods (OCTG).
Despite the new ownership, Ramco Norway will continue to operate under the same name and management.
