Fugro has reached agreement with Reef Subsea AS to acquire Bluestone Offshore Pte Ltd and its subsidiaries.

Bluestone Offshore Pte Ltd is a specialist provider of geotechnical services in Southeast Asia and Australia and currently operates one chartered DP deepwater geotechnical vessel in the region. The staff of approximately 40 also provides laboratory and engineering services in their office in Singapore. The office will be consolidated into Fugro’s existing operations in Singapore.

Revenues for Bluestone Offshore for 2010 were in the order of USD 20 million.

Source: fugro , April 05, 2011;