DeepOcean Acquires Shelf Subsea to Expand Footprint in Southeast Asia, Australia, and the Middle East

Norwegian ocean services contractor DeepOcean has recently announced the acquisition of Australia’s subsea services provider, Shelf Subsea. This strategic move marks a significant expansion for DeepOcean into key markets in Southeast Asia, Australia, and the Middle East.

With the acquisition of 100% of the shares in Shelf Subsea, DeepOcean now has a stronger presence in the region. While financial details of the deal were not disclosed, the transaction is expected to have a transformative impact on both companies.

Shelf Subsea, headquartered in Australia with additional offices in Singapore, Indonesia, Malaysia, Papua New Guinea, and Saudi Arabia, brings a wealth of expertise and resources to the table. The company, boasting approximately 200 employees, operates a fleet of three chartered multipurpose dive support vessels, multiple ROVs, various subsea installation equipment, and a number of diving systems.

Following the acquisition, the combined group will have around 1,800 employees and generate over $1 billion in revenue. Shelf Subsea will be integrated into DeepOcean and will operate under the banner of DeepOcean APAC, further solidifying the company’s presence in the region.

This strategic move not only enables DeepOcean to expand its operating model globally but also grants access to a versatile subsea fleet. The acquisition of Shelf Subsea opens up new opportunities in the APAC and Middle East markets, where there is a growing demand for subsea IMR and recycling services, as well as a burgeoning offshore wind market.