OTC 2015: Underwater Integrity Solutions announces formation

Officials have announced formation of a new comany named Underwater Integrity Solutions.

May 4th, 2015

Offshore staff

HOUSTON – Officials have announced formation of a new comany named Underwater Integrity Solutions. Launched at the Offshore Technology Conference. UIS is headquartered in Houston and focuses on underwater integrity, production assurance, and life extension for subsea oil and gas fields.

With $150 million in equity to finance the new company, HitechVision joins a management team that UIS says has more than 140 years' experience and intends to acquire businesses and form partnerships to focus on integrity and production assurance.

The UIS management team includes CEO Bill Boyle, CFO Mark Webster, COO Guido Bressani, Chief Commercial Officer Neill Kelly, Chief Technology Officer Geoff Fisher.

The board of directors also includes Chairman Rolf Magne Larsen, who recently retired from Statoil; Quinn Fanning, CFiO of Tidewater Inc.; Lasse Andresen of ForgeRock; and Tor Espedal, Senior Partner of HitecVision.

5/4/15

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