DeepOcean Acquires Shelf Subsea, Creating Global Subsea Services Player

Ocean services provider DeepOcean has announced the acquisition of Shelf Subsea, marking a significant milestone in the company’s expansion strategy. The move creates a ‘global subsea services player’ with a comprehensive portfolio of solutions, now extending into the Asia-Pacific and Middle East regions.

Expanding Footprint

DeepOcean has acquired 100% of the shares in Shelf Subsea, expanding its presence into Southeast Asia, Australia, and the Middle East. The combined entity will boast a workforce of approximately 1,800 employees and generate over $1 billion in revenue.

Shelf Subsea will be integrated into DeepOcean and operate as DeepOcean APAC, forming a key business region for the company. Financial details of the acquisition have not been disclosed.

Global Expansion

The acquisition paves the way for global expansion of DeepOcean’s operating model, centered around engineering, project management, proprietary technology, subsea tool pool, ROVs, and a versatile subsea fleet. The move aligns with the company’s growth strategy and strengthens its position in key markets.

The subsea markets in APAC and the Middle East present attractive opportunities, with increasing demand for subsea IMR services, recycling solutions, and a growing offshore wind sector. DeepOcean and Shelf Subsea are well-positioned to capitalize on these trends and offer a comprehensive suite of services to clients worldwide.

Complementary Services

Shelf Subsea brings to the table a range of services including engineering, project management, subsea construction and installation, survey and positioning, IMR services, as well as asset removal and recycling. The company, headquartered in Australia, operates across multiple locations in the region.

With a fleet of dive support vessels, ROVs, subsea installation equipment, and diving systems, Shelf Subsea enhances DeepOcean’s capabilities and strengthens its operational presence in key markets. The combined expertise of both companies will enable them to deliver innovative solutions and unparalleled customer service.

Looking Ahead

Commenting on the acquisition, Øyvind Mikaelsen, CEO of DeepOcean, expressed enthusiasm about the collaboration with Shelf Subsea. He highlighted the synergies between the two companies and the opportunity to leverage each other’s strengths to deliver value to customers worldwide.

“We are excited to combine our technology and solutions with Shelf Subsea’s operations in the APAC region. The acquisition will enable us to enhance our offerings and expand our market reach,” said Mikaelsen. “We are confident that the integration of Shelf Subsea into DeepOcean will drive growth and create new opportunities for both companies.”

Overall, the acquisition of Shelf Subsea represents a strategic move for DeepOcean, positioning the company as a leading player in the global subsea services sector. The combined entity is well-equipped to meet the evolving needs of the industry and deliver innovative solutions to clients around the world.