OCEANTEAM enters into Engineering Joint Venture
Posted on April 3, 2008 – 9:53 am | by vchris
Oceanteam ASA announced today that it has agreed with the Management of KCI Oil & Gas Engineers in the Netherlands a joint venture for the renewables market.
The management concluded at the same time a successful management buy-out from the Wood Group. Oceanteam ASA supported the management buy-out with a combination of equity and debt financing. In the process Oceanteam ASA established a commercial relation with KCI to provide extensive engineering support for its Offshore Renewables and Offshore Power Grids operations.
KCI, based in Schiedam, The Netherlands, is an independent Oil & Gas engineering company and employs more than 100 multi-disciplinary engineers. To support the commercial agreement and the renewables market in general, KCI will expand its number of employees further.
The commercial terms between the parties are confidential.
The establishment of a commercial relation with KCI Engineering is part of the continuous effort by Oceanteam ASA to increase its capability and to support and goal to be the prime provider of installation and trenching services to the offshore power cable industry.
About Oceanteam
Oceanteam is a niche services provider focused on servicing, installation, trenching and IMR of flexible pipelines, umbilicals and power cables. This includes the provision of subsea services, installation teams, fully operational spreads and time charters. Oceanteam is located in Bergen, Aberdeen, Willemshaven and Amsterdam.
The company’s target markets are Oil & Gas, Offshore Renewables and Offshore Grid / Interconnectors
For more information: www.oceanteam.no
About KCI Oil & Gas Engineers
KCI, founded in 1987 as an engineering service company, provides full engineering design and consultancy services to clients in both the onshore and offshore oil & gas industry. The company is well placed to serve clients in all sectors of the North Sea and has started to enter new markets in the global oil & gas arena. KCI is located in Schiedam, The Netherlands.
For more information: www.kcibv.nl
For further information about Oceanteam, please contact:
CEO Haico Halbesma +31.6.51409987 haico@oceanteam.no
COO Jon Mears +44 77 74 44 22 56 jon.mears@oceanteam.net
Tags: Engineers, KCI, Management, Oceanteam ASA, Oil & Gas
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