Asset integrity services firm Stork Technical Services has agreed to sell its subsea division to Netherlands-based N-Sea Group.
Stork said the move followed a strategic review of its core business and would enable it to focus on key services and innovations, supporting its business as an asset lifecycle integrity partner in the oil and gas sector.
N-Sea said the acquisition was part of the company’s strategy to become a leading survey and IMR company.Post acquisition, the enterprise will employ more than 120 onshore staff, and, on average, 150 offshore staff, with 10 diving systems, nine ROVs, three offshore diving and ROV support vessels, and three daughter craft diving RHIBs, plus three support RHIBs, as well as extensive data management and subsea engineering capabilities.
N-Sea has two main offices, in Aberdeen and Zierikzee (NL). The Group will have a combined turnover of more than EUR75 million.Roddy James, senior VP Stork Technical Services – Subsea, will join the board of directors of the N-Sea Group in the role of COO.
Stork said it would continue to develop and invest in technology associated with subsea integrity, cathodic protection, bolting, tensioning and tooling operations, which will not be affected by the sale of the subsea business.
Stork Technical Services has 14,500 employees worldwide (UK & Africa, North and South America, Continental Europe, Middle East, Asia-Pacific).