Otto Marine Explores Strategic Options to Grow Subsea Services Division

Otto Marine Limited, a leading offshore marine company which owns and operates a large fleet of offshore support vessels and offers specialized offshore services, is currently exploring available strategic options to facilitate the expansion of its subsea operations business.

UOB Kay Hian Holdings Limited (“UOB”) has been appointed to advise the Group on strategic options, aimed to develop the international profile and competitive position of its subsea services unit in the increasingly growing segment.

Otto Marine subsea operations business includes provision of light construction services in deepwater Oil and Gas field developments, while performing inspection, maintenance and repair (“IMR”) on existing and expanding subsea developed regions, and provision of specialised subsea vessels on long term charter in specific regions in support of subsea developments.

The options for expansion include a potential listing of one of its wholly owned subsidiaries, Surf Subsea Pte Ltd, on the Singapore Exchange Securities Trading Limited.

The fulfillment of the Subsea Expansion will be dependent on a variety of factors, including the feasibility of the strategic options, prevailing market conditions and the Company’s circumstances.

Commenting on the Group’s strategic approach, Mr Michael See, Group Executive Director, said: “The exploration of strategic alternatives for Otto Marine demonstrates our commitment to enhancing shareholder value and sharpening our strategic and financial focus. We believe there are avenues that could afford Otto Marine more versatility to make strategic investment decision to take full advantage of the compelling prospects of the subsea segment and to better position the business for its customers, partners and employees.”

August 25, 2014; Image: Otto Marine

 

Share this article

Follow Subsea World News

Events>

<< Jul 2018 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

FPSO World Congress 2018

This year’s FPSO World Congress will tap on this green shoots of recovery and will focus on practical strategies to address key project…

read more >

ONS 2018

Offshore Northern Seas (ONS) provides a platform for the presentation of the political, economic and technological issues involving…

read more >

STRUCTURAL INTEGRITY 2018

The conference will bring together researchers and practitioners to discuss and address the current and emerging issues and challenges…

read more >

RIO OIL & GAS 2018

The leading oil and gas event in Latin America is organized every two years by the Brazilian Petroleum, Gas and Biofuels Institute (IBP)…

read more >