Published On: Fri, Oct 4th, 2019

Subsea 7 acquires Norwegian subsea solutions provider 4Subsea

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acquisition of 4Subsea : Subsea 7, a UK-based subsea engineering, construction and services company, has acquired Norwegian subsea solutions provider 4Subsea for an undisclosed price.

4Subsea offers technology and services that help oil and gas, and offshore wind operators across the world in making key decisions.

The Norwegian subsea solutions provider is said to enable operators to sustain production from subsea oil and gas fields and offshore wind farms. Through a combination of operational experience, expert engineering competence,  and digitalized decision support, 4Subsea ensures the integrity of subsea assets right from the reservoir to deck.

The subsea solutions company had been backed by Viking Venture, an active investor since 2014, helping it to expand its digital services. Founded in 2007, 4Subsea is said to serve all the big oil and gas operators and also the large suppliers of subsea equipment.

The Norwegian subsea consultant will support Subsea 7 in providing advanced digital solutions to customers within Life of Field and Field Development contracts and is expected to be a major contributor to the ongoing digital transformation of the latter’s business delivery.

Subsea 7 acquisition of 4Subsea

Subsea 7 acquisition of 4Subsea. Photo courtesy of SUBSEA 7.

4Subsea will autonomously function within Subsea 7 and will have an independent brand and management team. Its present CEO Peter Jenkins will continue in his role.

Commenting on Subsea 7 acquisition of 4Subsea,  Stuart Fitzgerald – Executive VP – Alliances and Strategy at Subsea 7, said: “We regard the acquisition of 4Subsea as an important opportunity for Subsea 7 to expand its digital capability and offering. 4Subsea digital insights will create value for Subsea 7 in both our services provided to customers, and to improve efficiency within our own operations and delivery.

“4Subsea’s experienced team of subsea domain experts and data scientists provides innovative digital solutions to energy operators, reducing operational risk, cost and providing actionable insights.”

Subsea 7 said that an early priority project will be a joint effort with 4Subsea for monitoring of important operational data on the former’s vessels, thereby helping in the digitalization of its marine operations.

By employing advanced algorithms and , 4Subsea will provide crucial insights and decision support with digital twins to streamline the marine activities of Subsea 7.

Peter Jenkins – CEO of 4Subsea, Commenting on Subsea 7 acquisition of 4Subsea, said: “We aim to combine our ability to deliver quick and targeted business value within well intervention, drilling, subsea operations, and offshore wind with Subsea 7’s strong position as a leading player within the subsea and renewables market.

“We believe there is significant value to energy operators in combining our services with Subsea 7’s Field Development and Life of Field business. In addition, we can create value within Subsea 7 with the vessel monitoring project, in the same way we have developed digital twins for subsea production and drilling.”

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