Aberdeen-based energy support firm Stork Technical Services is selling off its subsea division to N-Sea Group.
Stork says a strategic review of its core business has resulted in the decision to sell the subsea arm to Netherlands-based N-Sea for an undisclosed sum.
The Dutch firm operates as an offshore subsea contractor to the oil and gas, renewables and subsea cable industries in the North Sea.
Acquisition of Stork’s subsea division creates the company’s first UK-base, although more than 50% of turnover comes from work in the UK.
Stork today said divestment of the subsea division would enable it to focus on providing key services and innovations as an asset lifecycle integrity partner in the oil and gas industry.
The firm said it will work closely with N-Sea during the sale process to ensure continuity of ongoing contracts and service agreements.
Following completion of the acquisition, Stork’s senior vice president Roddy James will join the board of directors of the N-Sea Group in the role of chief operating officer.
N-Sea says the combined business will have a strong position in North Europe delivering inspection, maintenance and repair (IMR) and survey solutions to oil, gas and renewables operators.
The firm says the new business will employ more than 120 onshore staff, around 150 offshore staff, and operate 10 diving systems, nine remotely operated vehicles (ROVs), 3 offshore diving and ROV support vessels, three daughter craft diving RHIBS and three support RHIBS.
“It’s the first time we have set up shop in the UK and we are quite excited about that,” N-Sea chief executive Gerard Keser today told Energy Voice.
“We will continue to service the customers we already have, but they will get an enhanced service portfolio because the two companies will be able to deliver more value to customers.”
He said the company would focus growth on the Central and Northern North Sea.
Stork said the sale of its subsea division would not affect its development and investment in technology associated with subsea integrity, cathodic protection, bolting, tensioning and tooling operations.
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