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Subsea 7 completes acquisition of 4Subsea

07/10/2019
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Subsea 7, the major provider of offshore technology and equipment solutions to the Oil & Gas and Offshore Wind industries, has announced that it has completed the acquisition of 4Subsea.
Subsea 7 completes acquisition of 4Subsea
(Image via 4Subsea).

The acquisition will see 4Subsea supporting Subsea 7 in delivering advanced digital solutions to their customers with Life of Field and Field Development contracts and be a key contributor to the ongoing digital transformation of Subsea 7 business delivery.

Under the terms of the acquisition 4Subsea will function autonomously within Subsea 7, maintaining an independent brand and management team. 4Subsea’s CEO Peter Jenkins will continue in his role.

Commenting on the deal, 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.”

“We are delighted that the 4Subsea team is now part of our Group, and we look forward to jointly delivering enhanced value to our customers.”

An early priority project will be a joint effort between Subsea 7 and 4Subsea towards monitoring of key operational data on Subsea 7 vessels, contributing to the digitalisation of its marine operations. With the use of advanced algorithms and artificial intelligence, 4Subsea will deliver key insights and support with digital twins, in order to optimise these activities.

Peter Jenkins, CEO, 4Subsea commented on the deal, saying: 

“We are proud and happy to become a Subsea 7 company, as we regard this as an excellent opportunity to scale our technology and services to a larger market. 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.”

4Subsea was established in 2007 and has a broad roster of clients including all the major oil and gas operators as well as the large suppliers of subsea equipment. 4Subsea is headquartered in Asker, Norway with additional offices in Bergen, Kristiansand, Stavanger, Rio de Janiero, and Aberdeen.

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Subsea 7 completes acquisition of 4Subsea - Time to read 3 min
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