Scotland-based Global Energy Group has acquired subsea technology company Geo Oceans, based in Perth, Australia.

Global Energy Group Chief Executive, Iain MacGregor said: “Geo Oceans is an industry-leader and innovator in its field. Additionally, it is a company we admire and have collaborated with in the past, so it is an excellent addition to the Group.

“Geo Ocean’s positioning at the cutting edge of micro ROV technology not only enhances our marine and subsea credentials but will also allow us to bring cost efficiencies to our clients in the North Sea oil and gas industry at a time when they need it most, on some projects micro ROV works have shown a 70% reduction in costs compared to conventional methods of diving and working class ROVs” added MacGregor. “The acquisition will also aid Geo Ocean’s expansion and bolster Global Energy’s competencies in growth areas of our diversified business such as Renewables and Utilities.”

Post-acquisition Geo Oceans will retain its entire workforce and continue to be headed-up by existing Managing Director, Ben Brayford.

“Global Energy Group’s acquisition of Geo Oceans sees two industry-leading companies join forces,” said Brayford. “With a truly international-reach, being part of the GE Group will facilitate the export of our Western Australia-based company’s capabilities to markets beyond Australasia at a time when a number of innovations are seeing our ROV technology get ever smaller, more powerful and cost-effective.”