Technip has agreed to take a majority stake in Norwegian firm Inocean after entering into a strategic cooperation agreement with the firm, to further develop offshore floater engineering services for the Norwegian continental shelf and other offshore markets worldwide.
Inocean will provide Technip with regulatory competence within NORSOK standards and other relevant regulations. In addition, the firm will bring hull and naval architecture technology services, including early phase work, under FEED studies, to provide services to the oil and gas market on the Norwegian continental shelf and other regions.
Jon Erik Borgen, CEO of Inocean, said: “As a world leader in project management, engineering and construction for the energy industry, we think Technip will contribute to accelerating the development and capabilities of Inocean. Inocean will continue to operate as we do today, supporting new and existing clients with high-end design and engineering services."
Inocean was established in 1996 and is headquartered at Aker Brygge in Oslo. In 2006, Inocean Poland was established in Szczecin and in 2010 the firm opened an office in Gothenburg, Sweden. The Group also includes the subsidiary Anchor Contracting and the company owns a stake in SWAY ABB Inocean AB and Inocean Marotec.