wiredInUSA April 2018

Image: www.oceaneering.com

Acquiring seabed services

the existing pre-cut methods offered by the SCAR ploughing tools.

Oceaneering International, through one of its wholly owned subsidiaries, has acquired the Aberdeen-based Ecosse Subsea Ltd for approximately £50 million. Ecosse builds and operates seabed preparation, route clearance and trenching tools for submarine cables and pipelines. Its facilities include vessels, ROVs and survey services. Ecosse’s modular SCAR seabed system, capable of completing the entire trenching work scope, and its newly developed SCARJet trenching system are among the technologies that Oceaneering will acquire through the transaction. The SCARJet trenching system is designed for use with standard work class ROVs, adding jetting and post-lay trenching capabilities to

Roderick A Larson, president and chief executive officer of Oceaneering, commented: “We are pleased to complete the acquisition of Ecosse, which we believe offers Oceaneering the opportunity to expand our service line capabilities and grow our market position within the offshore renewable energy market, and provide our customers with proven tools to optimize installation projects. “Theadditionof Ecosse reflects our commitment to expand into the adjacent renewable energy market to more comprehensively serve the offshore energy industry.

“We expect the acquisition to be accretive to Oceaneering’s 2018 cash flow and earnings.”

wiredInUSA - April 2018

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